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GrubHub earnings top 1Q profit forecasts

GrubHub Inc. on Wednesday reported first-quarter net income of $10.6 million.

The Chicago-based company said it had net income of 12 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The online food ordering service posted revenue of $88.2 million in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $85.5 million.

For the current quarter ending in June, GrubHub said it expects revenue in the range of $83.5 million to $85.5 million.

The company expects full-year revenue in the range of $346 million to $361 million.

GrubHub shares have risen 25 percent since the beginning of the year. The stock has climbed 39 percent in the last 12 months.