Published • loading... • Updated
DoorDash plans to spend more than $50 million on gas price relief for its drivers this spring
DoorDash said the temporary program is offsetting higher fuel costs as U.S. gas averages $4.53 a gallon, according to AAA.
- The San Francisco-based DoorDash expects to spend more than $50 million in the second quarter on gas price relief for U.S. and Canadian drivers, a temporary program announced in March.
- Surging fuel costs linked to the Iran war prompted the relief program; AAA reported the national average gas price reached $4.53 per gallon, up 44% from a year ago.
- In the January-March period, DoorDash reported Revenue rose 33% to $4.0 billion, falling shy of Wall Street's $4.15 billion forecast, while net income fell 5% to $184 million.
- To fund the relief program, DoorDash Chief Financial Officer Ravi Inukonda said the company "did have to push out some investments." Shares rose more than 11% in after-hours trading Wednesday.
Insights by Ground AI
9 Articles
9 Articles
Associated Press News+7 Reposted by 7 other sources
DoorDash plans to spend more than $50 million on gas price relief for its drivers this spring
DoorDash said Wednesday it expects to spend more than $50 million in the second quarter on gas price relief for its delivery drivers.
·United States
Read Full ArticleCoverage Details
Total News Sources9
Leaning Left1Leaning Right0Center8Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
Factuality
To view factuality data please Upgrade to Premium
