Business · CNBC Technology
DoorDash pops 12% on strong earnings, upbeat order growth guidance
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DoorDash reported strong first-quarter results and order growth guidance after the bell on Wednesday as the food delivery giant pours more money into new technology to lure customers.
Key facts
- Revenue rose 33% from $3.03 billion a year ago, while total orders jumped 27% to $933 million, but missed the $954 million estimate from analysts
- The food delivery company also guided for $770 million to $870 million in EBITDA
- For the current quarter, DoorDash expects marketplace gross order value, which tracks the total dollar value of orders on its platform, to range between $32.4 billion and $33.4 billion
- DoorDash is spending big on new features and services as it builds out a single-platform tech stack that integrates its recent global acquisitions
Summary
For the current quarter, DoorDash expects marketplace gross order value, which tracks the total dollar value of orders on its platform, to range between $32.4 billion and $33.4 billion. The food delivery company also guided for $770 million to $870 million in EBITDA. Revenue rose 33% from $3.03 billion a year ago, while total orders jumped 27% to $933 million, but missed the $954 million estimate from analysts. DoorDash is spending big on new features and services as it builds out a single-platform tech stack that integrates its recent global acquisitions.