DoorDash (DASH) posted a first-quarter earnings report on Thursday that vastly surpassed Wall Street’s expectations, demonstrating that its boost from. The company ago, to $1.08 billion, and total orders soared 219 percent year-over-year, to $329 million. The results sent its stock on a tear after hours, up over 10%. Here’s what the San Francisco-based company reported, compared to estimates, according to a Bloomberg consensus estimate:
- Revenue: $1.08 expected
- Adj. loss per share (EPS): -$0.34 versus -$0.10 per share expected
- Orders: 329 million versus 303.8 million expected
Although its loss was more comprehensive than competitive delivery industry. cheered DoorDash’s full-year guidance, forecasting gross volume order value to be $35 billion to $38 billion. The company also expects EBITDA to be in the range of $0 million to $300 million. “Our outlook for both the second quarter and 2021 anticipates the successful rollout of and an associated increase in in-store dining rates, as well as a seasonal decline in order rates associated with the warmer summer months,” the company shared in a note to investors.estimates, gross order volume spiked 222 percent to $9.9 billion, topping expectations of $8.96 billion, and first-quarter profit increased 736% compared to a year ago. The results solidified DoorDash’s dominance in the increasingly
“While we observed encouraging trends in the first quarter, we caution investors that the outlook for 2021 remains highly uncertain ascould deviate from the expectations included in our guidance,” it added. Wall Street watchers, like Securities senior analyst Brian Fitzgerald, expected DoorDash to continue entrenching itself with users. “We expect the strong brand is going to continue to resonate,” Fitzgerald told Yahoo recently. He cited DoorDash app use that remained elevated in January, February, March, and April 2021.
Compared to competitors like Grubhub (GRUB) and Uber Eats (UBER), Fitzgerald added that DoorDash is “unique” due to its high growth and its profitability, noting it has “nationalleadership.” He also suggested that takeout or delivery has “become essential” to people’s lives —and it might be here to stay. , the U.S. economy saw “macro shifts in secular growth, and it’s a one-way ratchet…when the macro situation ameliorates or dissipates, you to necessarily the old way of doing things when you found a more efficient way to do stuff,” the analyst explained.
Meanwhile, Steven Fox of Fox Advisors Founder & CEO told Yahoo Finance he isstructure for restaurants announced in late April as local restaurants and customers plan for life after COVID-19 lockdowns. He’s also keeping a close eye on courier availability as the company looks to compete with others in the space, like Lyft (LYFT) and Uber. “If you have a car and you’re in the gig economy, and maybe you’ve been doing more with DoorDash,” he explained, a driver can make good money doing ride-sharing and delivery.