Shares in Germany’s Delivery Hero soared on Thursday after it raised its full-year revenue guidance for 2019 as customers placed more orders for its on-demand food delivery, especially in Asia.
Delivery Hero, which competes with Takeaway.com, Deliveroo, and UberEATS, lifted its 2019 guidance by 200 million euros (£177.5 million) on Wednesday to 1.3-1.4 billion euros, amounting to almost 100% year-on-year growth.
“The upgrade significantly vindicates the slings and arrows the equity has faced for daring to invest,” Jefferies said.
Delivery Hero also forecast that its European business would break even in the second half of this year.
