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Why GrubHub Inc. Stock Surged Today

What happened

Shares of GrubHub Inc. (NYSE:GRUB) were surging today after the restaurant delivery expert posted a blockbuster first-quarter earnings report.

As of 11:08 a.m. EDT, the stock was up 18.9%.

Image source: Getty Images.

So what

The nation's leading takeout marketplace beat estimates on top and bottom lines as revenue jumped 39%, to $156.1 million, and adjusted earnings per share improved from $0.20 a year ago to $0.29. Analysts had expected revenue of $153 million and $0.24 in EPS.

CEO Matt Maloney said, "More new diners tried Grubhub than ever before," as active diners increased 26%, to 8.75 million, in the quarter, accelerating from 21% the quarter before. He added, "We are seeing clear signs of success from a more diverse restaurant base, broader marketing reach, and continuous...