DoorDash reports Q1 revenue up 33% YoY to $4.04B, below $4.14B est., and forecasts Q2 marketplace gross order value above estimates; DASH jumps 11%+ pre-market
DoorDash (DASH.O) on Wednesday forecast second-quarter marketplace gross order value above analysts' estimates …
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DoorDash Q1 Revenue Surges 33% as Delivery Giant Eyes Strong Q2
DoorDash posted $4.04B in Q1 revenue with 33% year-over-year growth, sending shares up 11% after hours.
DoorDash just dropped a Q1 earnings report that has Wall Street buzzing. The delivery platform pulled in $4.04 billion in revenue, a 33% jump year-over-year. That actually missed analyst estimates of $4.14 billion, but investors didn't seem to care much.
Why the enthusiasm? DoorDash's Q2 outlook stole the show. The company forecasted marketplace gross order value above what analysts had penciled in, signaling that consumer demand for delivery isn't slowing down anytime soon.
DASH shares responded accordingly, surging more than 11% in after-hours trading. The stock pop suggests the Street is betting on DoorDash's forward momentum over a slight revenue miss.
The takeaway: DoorDash is growing fast and expects to keep growing faster than expected. Revenue miss or not, the delivery wars are far from over.