Tony Xu, co-founder and chief executive officer of DoorDash Inc.
David Paul Morris | Bloomberg | beautiful pictures
DoorDash The stock rose more than 10% in trading that lasted after the company reported 35% revenue growth in the first quarter, showing that the company’s core takeaway business can still grow even after the peak caused by the pandemic.
However, the stock crashed in regular trading on Thursday, falling more than 10% in the a bad day for the market Generally speaking.
Here’s how Doordash did against the Refinitiv consensus estimate:
- Loss per share: Loss of $0.48 per share vs loss of $0.41 per share expected
- Turnover: $1.46 billion vs. $1.38 billion estimated
DoorDash said the total number of orders it shipped in the quarter grew 23% to 404 million, and that it added the most new customers to its service since the first quarter of 2021, in a wave of infections. Significant Covid in the United States.
However, DoorDash reported significantly slower revenue growth compared to the same period in 2021, when net revenue nearly tripled.
DoorDash said its EBITDA, which doesn’t include some costs like legal battles over worker classification and taxes, rose to $54 million from $43 million in the March 2021 quarter.
For the current quarter, DoorDash projects an EBITDA between $0 and $100 million.
The company said in a letter to investors that DoorDash is capturing market share in the food delivery market in the United States and it plans to spend the money generated from food delivery moving into other categories. , including grocery, liquor and retail delivery. .
The company also said it paid fewer offers and promotions to attract delivery workers than it did in the first quarter of 2021.
