DoorDash increases after reporting 35% sales growth
Key takeaways:
- DoorDash stock increased in extended trading after the firm reported 35% earnings gain in the first quarter, indicating that the firm’s core business of delivering takeout food can still expand even after pandemic-driven highs.
DoorDash stock increased over 10% in extended trading after the firm reported 35% earnings gain in the first quarter, indicating that the firm’s core business of providing takeout food can still develop even after pandemic-driven highs.
However, the shares were hit during regular session trading on Thursday, falling over 10% during a bad day for markets in general.
Here’s how DoorDash did versus Refinitiv consensus estimates:
- Loss per share: $0.48 loss per share versus $0.41 loss per share predicted
- Revenue: $1.46 billion versus $1.38 billion predicted
DoorDash stated the total number of orders it delivered during the quarter grew 23% to 404 million. It added the newest clients to its service in the first quarter of 2021, during a compelling wave of Covid illnesses in the United States.
However, DoorDash reported an extremely slower earnings growth rate than in the same quarter in 2021, when net sales almost tripled.
DoorDash stated that its EBITDA, which excludes certain expenses such as legal disputes over worker classification and taxes, grew to $54 million from $43 million in the 2021 March quarter.