February 8, 2018 / 12:31 PM / a year ago

UPDATE 1-GrubHub profit jumps as restaurant network expands

(Adds revenue, adj EPS, CEO quote)

Feb 8 (Reuters) - Online food delivery company GrubHub Inc reported a four-fold rise in quarterly profit on Thursday, driven by an increase in its restaurant base.

The company said it had 14.5 million active diners in the quarter ended Dec. 31, beating analysts' average estimate of 11.5 million diners, according to research firm FactSet.

"Over the past two years we have taken incredible strides in expanding the breadth and depth of our restaurant network, growing the number of local restaurants we work with from 40,000 to over 80,000 today," GrubHub Chief Executive Matt Maloney said.

GrubHub's net income attributable to common stockholders rose to $53.5 million, or 60 cents per share, in the fourth quarter, from $13.6 million, or 16 cents per share, a year earlier.

Excluding items, the company earned 37 cents per share. Revenue rose 49.2 percent to $205.1 million. (Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta)

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