Shares of DoorDash (DASH) jumped 14% after the food delivery company posted better-than-
expected third quarter earnings.
The San Francisco-based company announced a loss per share of $0.77 U.S. compared to
$0.60 U.S. that was expected on Wall Street, according to Refinitiv data. Revenue came in at
$1.7 billion U.S. versus $1.63 billion U.S. that was forecast.
DoorDash said its total number of orders in Q3 rose 27% to 439 million, which topped analyst
expectations of 433 million orders.
The strong orders alleviate investors’ concerns of a slowdown in food deliveries as inflation
persists around the world. DoorDash said it anticipates consumer spending to remain strong for
the rest of this year.
Looking ahead, the company forecast gross order value to be between $13.9 billion U.S. and
$14.2 billion U.S. in the current fourth quarter, which is higher than consensus estimates of
$13.73 billion U.S.
The company said it expects earnings of $85 million U.S. to $120 million U.S. during Q4.
Prior to today, DoorDash’s stock had declined 67% this year to $47.61 U.S. per share.
