DoorDash Q2 Earnings: Revenue Beat, EPS Miss, Total Orders Up 19%, Results Reflect 'Years Of Investment And Product-Level Focus'
Portfolio Pulse from Adam Eckert
DoorDash Inc (NASDAQ:DASH) reported Q2 earnings with revenue of $2.63 billion, beating estimates, but a loss of 38 cents per share, missing expectations. Total orders increased by 19% YoY, and the company ended the quarter with $3.43 billion in cash. DoorDash expects Q3 marketplace GOV between $19.4 billion and $19.8 billion and adjusted EBITDA between $470 million and $540 million. The company repurchased 2.1 million shares for $219 million. Shares rose 13.23% after hours.
August 01, 2024 | 8:46 pm
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DoorDash reported Q2 revenue of $2.63 billion, beating estimates, but a loss of 38 cents per share, missing expectations. Total orders increased by 19% YoY. The company expects Q3 marketplace GOV between $19.4 billion and $19.8 billion and adjusted EBITDA between $470 million and $540 million. Shares rose 13.23% after hours.
Despite missing EPS estimates, DoorDash's strong revenue growth and positive outlook for Q3 have driven a significant after-hours stock price increase. The company's robust cash position and share buyback program further support investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100