Business
Instacart Profit Falls Following $60 Million Settlement With FTC
Instacart CART 0.94%increase; green up pointing triangle reported lower fourth-quarter profit dragged down by a $60 million settlement with the Federal Trade Commission in connection with claims that it used deceptive practices to raise costs for shoppers.
The food-delivery platform, also known as Maplebear, on Thursday posted net income of $81 million, or 30 cents a share, down from $148 million, or 53 cents a share, from the same period a year earlier.
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