DoorDash orders and revenue beat Wall Street expectations despite disappointing net losses
FILE – The DoorDash app icon is shown on a smartphone, Feb. 27, 2020, in New York. The San Francisco delivery company said Thursday, Feb. 15, 2024, that revenues rose 27% to $2.3 billion in the October-December period, slightly exceeding the $2.25 billion analysts had expected. (AP Photo/File)
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SAN FRANCISCO (AP) — DoorDash’s revenues and orders exceeded expectations for the fourth quarter, although its net losses failed to shrink as quickly as Wall Street had hoped.
The San Francisco delivery company said Thursday that its revenues rose 27% to $2.3 billion in the October-December period, slightly exceeding the $2.25 billion analysts had projected. Total orders rose 23% to 574 million compared to the 561.3 million forecast by Wall Street, according to analysts polled by FactSet.
The company’s net loss narrowed to $154 million in the quarter, down from $640 million in the year-earlier period. Analysts, however, had expected them to narrow further to $61 million.
DoorDash shares climbed 5.2% in regular trading but shed those gains and more after hours, falling 10%.