Deliveroo reports 4% rise in Q1 revenue, orders slip

British meal delivery company Deliveroo reported a 4% rise in revenue in its first quarter on Thursday, although a 9% drop in the number of orders on its platform resulted in 1% lower gross transaction value (GTV).

Chief Executive Will Shu said it was a "resilient performance", driven by the British and Irish markets, as the company maintained its guidance for the year for low to mid-single digit GTV growth and core earnings of 20-50 million pounds ($25-$62 million).