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DoorDash pops 14% on strong earnings, upbeat order guidance
The company projected second-quarter adjusted EBITDA of $770 million to $870 million as strong demand and higher orders offset heavier spending.
- DoorDash reported mixed first-quarter results on Wednesday, with earnings per share of 42 cents beating expectations; investors pushed shares up 8% following the report.
- To drive growth, the company is heavily investing in artificial intelligence and building a single-platform tech stack that integrates recent global acquisitions including SevenRooms and British delivery company Deliveroo.
- Earnings per share reached 42 cents, beating LSEG estimates of 36 cents; revenue of $4.04 billion and 933 million total orders missed analyst expectations.
- For the current quarter, DoorDash guided marketplace GOV of $32.4 billion to $33.4 billion and EBITDA of $770 million to $870 million, signaling confidence in near-term expansion.
- Amid the war in Iran, DoorDash expects over $50 million in gross costs for its driver relief program in the second quarter, funding it through adjusted investment priorities.
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17 Articles
Associated Press News+4 Reposted by 4 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
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DoorDash Q1 Highlights: Stock Soars On Record Membership Signups, Customer Engagement Offsetting Revenue
DoorDash Inc (NASDAQ:DASH) reported first-quarter financial results on Wednesday after market close. Here are the highlights. DoorDash Q1 Financials DoorDash reported first-quarter revenue of $4.04 billion, up 33% year-over-year. The revenue total missed a Street consensus estimate of $4.14 billion, according to data from Benzinga Pro. The company reported 42 cents per share in earnings per share for the quarter, beating a Street consensus estim…
·New York, United States
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Total News Sources17
Leaning Left8Leaning Right2Center6Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 38%
12%
Factuality
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