DoorDash shares headed higher in late trading Wednesday after the restaurant delivery service posted better-than-expected financial results for the third quarter along with fourth quarter guidance that topped Wall Street estimates. The consumer might be cutting back, but they’re apparently still ordering out.For the quarter, DoorDash posted revenue of $2.2 billion, up 27% from a year ago, and above the Wall Street consensus estimate of $2.1 billion.
Total orders were 543 million, up 24%, and above the consensus tracked by FactSet of 520 million. Marketplace gross order value was $16.75 billion, 24% higher, and ahead of the Street forecast at $16.1 billion.
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