DoorDash Posts Strong Profit Outlook, Delivery Order Growth
- The delivery company has worked to grow non-restaurant orders
- Net loss was $157 million as a result of one-time expenses
While DoorDash holds a market-leading share of US food delivery sales, the company is experiencing a slowdown in order growth due to intensifying competition.
Photographer: Yuki Iwamura/BloombergShares of DoorDash Inc. had their biggest same-day gain in nine months after the company reported a stronger-than-expected profit forecast for the current quarter, affirming that customer demand is resilient and that a plan to push into new categories beyond restaurants has been paying off.
DoorDash said Thursday that it expects adjusted earnings before interest, tax, depreciation and amortization for the current quarter of $470 million to $540 million, beating the consensus analyst forecast of $449.2 million. In the second quarter, DoorDash reported adjusted Ebitda of $430 million, ahead of analysts’ expectations.