DoorDash Reports Mixed Q1 Results: EPS Miss, Sales Beat
Portfolio Pulse from Erica Kollmann
DoorDash, Inc. (NASDAQ:DASH) reported mixed Q1 results with a larger-than-expected loss per share of 6 cents, missing estimates by 50%, but surpassed sales expectations with $2.513 billion, a 23.49% increase year-over-year. Total Orders and Marketplace GOV both grew by 21%. The company anticipates Marketplace GOV to be between $19 billion and $19.4 billion for Q2. Post-earnings, DASH shares dropped 11.85% in after-hours trading.
May 01, 2024 | 8:33 pm
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DoorDash reported a Q1 EPS loss of 6 cents, missing estimates, but exceeded sales forecasts with $2.513 billion. Shares fell 11.85% after-hours.
The mixed Q1 results with a larger-than-expected loss per share could lead to negative investor sentiment in the short term, as evidenced by the after-hours stock price decline. However, the sales beat and positive growth in orders and GOV indicate underlying strength in the business, which might mitigate some of the negative impact over time.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100