Instacart, Inc. (Maplebear Inc.) saw its stock price plummet 12.84% during intraday trading on Wednesday.

The sharp decline followed the release of the company's first quarter 2026 financial results, which presented a mixed picture for investors. While Instacart reported revenue of $1.02 billion that exceeded the IBES estimate of $1.01 billion, its earnings per share of $0.57 missed the IBES estimate of $0.60.

Despite adjusted EBITDA of $300 million beating expectations of $287.4 million, the earnings miss appears to have outweighed other positive results, leading to significant selling pressure as the market had priced in higher expectations ahead of the report.