Investing.com - Instacart reported fourth-quarter results Tuesday that missed Wall Street estimates and the grocery delivery platform said it expects order volumes to decline from a year ago as it rolls out low-and-no-cost delivery options.

Instacart ( Maplebear Inc.) (NASDAQ: CART ) fell 8% in afterhours trading following the earnings report.

For the three months ended Dec. 31, the company announced adjusted earnings per diluted share of $0.53 on revenue of $883 million, missing analyst estimates for EPS of $0.71 on revenue of $890.0M.

Gross transaction value, or GTV, rose 10% to $8.65B, beating estimates of $8.60B. Looking ahead, the company said it expects average order volume to decline.

"We also expect AOV will continue to decline year-over-year, primarily driven by restaurant orders and our new $0 delivery fee on $10 minimum basket feature, resulting in orders growth outpacing GTV growth in Q1’25.

For Q1, the company forecasts GTV $9B to $9.150B, above analyst estimates for $8.95B, and adjusted earnings before interest, taxes, depreciation, and amortization, or EBITDA, of $220M to $230M.