Home Business DoorDash Revenue (DASH) for the 1st quarter of 2022

DoorDash Revenue (DASH) for the 1st quarter of 2022

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Tony Xu, co-founder and CEO of DoorDash Inc.

David Paul Morris Bloomberg | Getty Images

DoorDash shares rose more than 10% in extended trading after the campaign reported revenue growth of 35%. in the first quarter, suggesting that the company’s core takeaway food business may grow even after the high caused by the pandemic.

However, shares were broken during regular session trading on Thursday, falling more than 10%. a bad day for the markets in general.

Here’s how DoorDash did against Refinitiv’s consensus estimates:

  • Loss per share: loss of $ 0.48 per share versus expected loss of $ 0.41 per share
  • Revenues: $ 1.46 billion versus $ 1.38 billion

DoorDash said the total number of orders it delivered during the quarter rose 23% to 404 million, and that it added to its service the largest number of new customers since the first quarter of 2021, which was during a significant wave of Covid infections in the United States .

However, DoorDash reported a much slower revenue growth rate than in the same quarter of 2021, when net sales nearly tripled.

DoorDash said its EBITDA, which excludes certain expenses such as litigation over employee classification and taxes, rose to $ 54 million from $ 43 million in the March 2021 quarter.

DoorDash expects EBITDA of $ 0 million to $ 100 million this quarter.

The company said in a letter to investors that DoorDash holds market share in the food delivery market in the United States, and that it plans to spend the money earned from food supplies on switching to other categories including food, alcohol and retail delivery.

The company also said it paid less incentives and promotions to attract delivery workers compared to the first quarter of 2021.

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