DoorDash Beats Revenue Estimates, Shares Up

Shares of DoorDash experienced a significant 13% increase in after-hours trading on Thursday, following the company's announcement of second-quarter results that surpassed analysts' revenue expectations. According to LSEG analysts, DoorDash reported a loss per share of 38 cents, which was notably higher than the anticipated loss of 9 cents. The company generated revenue of $2.63 billion, exceeding the expected $2.54 billion, and marking a 23% increase from $2.13 billion in the same quarter last year. In terms of financial performance, DoorDash narrowed its net loss to $157 million, or 38 cents per share, compared to a loss of $170 million, or 44 cents per share, during the previous year’s quarter. The delivery service reported a total of 635 million orders in the quarter, reflecting a 19% year-over-year growth. Additionally, DoorDash's Marketplace Gross Order Value (GOV) reached $19.71 billion, a 20% increase from the prior year. Looking ahead, DoorDash projected its Marketplace GOV for the third quarter to be between $19.4 billion and $19.8 billion, slightly below analysts' expectations of $19.51 billion. The company expressed satisfaction with its financial performance, attributing the results to years of investment and a focus on product development that has driven growth and improved unit economics across various business areas. DoorDash is set to discuss its quarterly results further during a call with investors scheduled for 5:00 p.m. ET.