Instacart (CART) Q2 2026: Revenue Growth Outpaced Quarterly Profit

Maplebear, the company operating Instacart, reported Q2 2026 revenue of $1.043 billion and net income attributable to the company of $111 million. Revenue rose 14.1% from $914 million a year earlier, while quarterly net income declined 4.3% from $116 million. The quarter therefore showed continued top-line growth without matching growth in absolute profit.

Filing-based comparison

Metric	Q2 2025	Q2 2026	Change
Revenue	$914 million	$1.043 billion	+14.1%
Net income attributable to Maplebear	$116 million	$111 million	-4.3%
Diluted EPS	$0.41	$0.45	+9.8%

Diluted EPS increased even though net income declined. Investors should not treat the per-share improvement as proof that operating profit grew; diluted share count, repurchases, and non-operating items can make EPS and absolute earnings move differently.

Year-to-date context

First-half revenue rose 13.9% to $2.062 billion from $1.811 billion. First-half net income increased 15.3% to $256 million from $222 million. That broader period suggests the quarterly profit decline did not by itself end the earnings-growth trend, but it makes the next quarter’s margin and cost structure more important.

What to monitor

The next 10-Q should show whether transaction growth and advertising or platform revenue translate into higher net income and operating cash flow. Repeated revenue growth with flat profit would weaken the operating-leverage case. The earlier automated article’s volume, consensus, valuation, and trade-level claims were removed because they were not supported by the filing.

Sources

Figures are calculated from SEC XBRL data and rounded. This article is informational and is not investment advice.