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Stock Alert: Grubhub Down 8%

Grubhub Inc. (GRUB) shares are sliding more than 6% in Thursday's morning trade.

The company reported net loss of $33.4 million or $0.36 per share compared with a profit of $6.9 million or $0.07 per share last year. Revenue for the quarter, however, increased to $363 million from $323.8 million in the previous year.

Currently, the shares of the online and mobile food-ordering and delivery marketplace are at $46.62, down 8.30 percent from the previous close of $50.83. GRUB gapped down at $48.29 at open.

The company noted that at current volume trends, it could be generating meaningful Adjusted EBITDA in the second quarter.

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