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DoorDash Stock Jumps On Strong Earnings

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Consumers continue to order out, based on the food delivery firm’s latest results.

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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E.l.f.’s stock jumps 10% on earnings, revenue beat; strong guidanceJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
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