DoorDash Shares Surge 13% on Strong Q2 Revenue Performance

Shares of DoorDash surged 13% in extended trading on Thursday after the company reported second-quarter results that exceeded analysts’ expectations for revenue.

Key Figures:

• Loss per share: 38 cents (compared to the expected loss of 9 cents)
• Revenue: $2.63 billion (compared to $2.54 billion expected)

DoorDash’s revenue increased 23% from $2.13 billion a year earlier. The company narrowed its net loss to $157 million, or 38 cents per share, from $170 million, or 44 cents per share, in the same period last year. The delivery service reported 635 million total orders in the quarter, up 19% year-over-year. The Marketplace GOV (Gross Order Value) was $19.71 billion, marking a 20% increase from the previous year.

For the third quarter, DoorDash expects Marketplace GOV between $19.4 billion and $19.8 billion, with analysts’ expectations at $19.51 billion.

DoorDash expressed satisfaction with its Q2 2024 financial performance, highlighting strong growth and improved unit economics driven by years of investment and product focus.

DoorDash will hold its quarterly call with investors at 5:00 p.m. ET.