Maplebear Inc. (Instacart) reported second-quarter 2026 sales of US$1,043 million and net income of US$111 million, while continuing a share repurchase program that has retired 63,204,406 shares for US$2,525.4 million since June 2024. The company also extended its AI-powered Caper smart trolleys into the UK with Morrisons, following prior deployments in the US and Australia, supporting growth in higher-margin, non-delivery revenue through retailer technology. The latest quarter’s results reinforce the earnings and per-share story but do not materially change near-term risks around gig worker costs or retailer competition. Maplebear’s narrative projects $5.0 billion revenue and $834.6 million earnings by 2029, with a $51.30 fair value in line with its current price. The most pessimistic analysts saw revenue rising only about 4.4 percent annually to roughly US$4.4 billion and earnings to about US$704 million.