(Bloomberg) -- Instacart elevated a former Uber Technologies Inc. veteran to chief financial officer, replacing Nick Giovanni who is retiring. The grocery delivery company also reported first-quarter revenue that beat analysts’ estimates.

Emily Reuter, who joined Instacart as vice president of finance six months ago, will take on the new role this week, Instacart said in a statement. Giovanni, who helped shepherd Instacart through its initial public offering last year, is retiring after three years at the company. Reuter was previously head of corporate finance at Uber, which operates a similar gig economy marketplace and only became full-year profitable for the first time in 2023.

Instacart, which trades as Maplebear Inc., reported first-quarter revenue and gross transaction value that surpassed analysts’ expectations, as the company said it was able to fulfill more orders when winter storms fueled customer demand for its delivery services of groceries and essential items.

Instacart reported revenue from transactions, advertising and other enterprise products of $820 million, beating the average analyst forecast of $794.5 million. Gross transaction value jumped 11% to $8.32 billion, also beating Bloomberg-compiled estimates of $8.16 billion. In the current period, it expects gross transaction value of $8 billion to $8.15 billion, with the midpoint exceeding Wall Street’s projections.

“I’m incredibly grateful to Nick, who brought a new level of financial rigor to the company, built a strong finance org., and helped us navigate a successful public market debut after the longest tech IPO drought in history,” said Instacart Chief Executive Officer Fidji Simo in a memo to employees earlier Wednesday.

Reuter “has a well-earned reputation for driving methodical, profitable growth on a massive scale,” Simo wrote in the memo. “Her experience has given her a deep understanding of what it takes to lead teams with ambitious visions like ours in complex, ever-changing industries, and I am so excited to see the impact she’ll have here.” 

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