FX.co ★ Delivery Hero Q1 Revenue Up 21%; Raises FY24 Revenue Outlook

Delivery Hero SE announced strong financial results for the first quarter, with 8% year on year growth in Gross Merchandise Value (GMV) and an impressive 21% increase in revenue. The total segment revenues, after adjustment for hyperinflation, reached 3.02 billion euros. Similarly, the Group's GMV, minus the hyperinflation adjustment, was reported at 12.1 billion euros for the quarter.

Furthermore, Delivery Hero has upgraded its total segment revenue forecast for fiscal 2024, now expecting an increase of 18-21% compared to the previous guidance of 15-17%. The company also confirmed that it's in line to realise an adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of between 725 million euros and 775 million euros, as well as achieving positive Free Cash Flow within fiscal year 2024.