Record online orders boosts GrubHub revenue, shares soar

(Reuters) – GrubHub Inc's revenue increased more than expected in the second quarter as a record number of people used its service to order meals online, sending the company's shares surging to a new year-high. GrubHub's third-quarter revenue forecast also topped analysts' estimates, indicating the company may have got a handle on the rising competition from Amazon.com Inc's Prime Now and recent entrant Uber's [UBER.UL] UberEATS. The company's shares rose as much as 27.8 percent to $39.29 in morning trading on Thursday and were the biggest gainer on the New York Stock Exchange on Thursday.

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