Nov 10 (Reuters) - Instacart beat Wall Street's

expectations for third-quarter gross transaction value (GTV) and

core profit on Monday, helped by steady demand for essentials on

its online grocery delivery platform.

The company, formally known as Maplebear ( CART ), saw solid order

growth in the reported quarter, helped by faster delivery

options and lower prices of products such as fruits, vegetables

and dairy items.

The company posted quarterly GTV - a key metric that shows

the value of products sold based on prices shown on Instacart -

of $9.17 billion, compared with analysts' estimates of $9.09

billion, as per data compiled by LSEG.

Instacart's quarterly core profit was $278 million, compared

with analysts' estimates of $264.5 million.

But the midpoint of the company's forecasted range for

fourth-quarter GTV came in below analysts' estimates, in a fresh

sign that rising economic uncertainty is forcing consumers to

hunt for cheaper alternatives.

The online grocery delivery platform now expects current

quarter GTV in the range of $9.45 billion to $9.60 billion,

compared with analysts' estimates of $9.45 billion.

Instacart is also facing stiff competition from

e-commerce giant Amazon.com ( AMZN ), which in August expanded

its fast-delivery option to perishable food, including items

such as strawberries, milk, and meats.