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HomeMarketDoorDash Shares Surge 10% Following Q3 Revenue Beat By Investing.com

DoorDash Shares Surge 10% Following Q3 Revenue Beat By Investing.com

© Reuters DoorDash Shares Surge 10% Following Q3 Revenue Beat
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By Davit Kirakosyan

DoorDash Inc (NYSE:) shares gained around 10% after-hours following the company’s reported , with revenue of $1.7 billion (up 33% year-over-year) coming in better than the consensus estimate of $1.62 billion. EPS was ($0.77), compared to the consensus estimate of ($0.55).

Total Orders grew 27% year-over-year to 439 million in Q3, driven by 16% growth in DoorDash orders and the addition of Wolt. Excluding Wolt, the year-over-year growth in DoorDash Total Orders was driven by growth in consumers and consumer engagement.

Marketplace GOV grew 30% year-over-year to $13.5 billion in Q3, driven by 21% year-over-year growth in DoorDash Marketplace GOV and the addition of Wolt. Excluding Wolt, the year-over-year growth in DoorDash Marketplace GOV was driven primarily by growth in Total Orders.

The company provided its Q4 outlook, expecting Marketplace GOV to be in a range of $13.9-$14.2 billion and adjusted EBITDA in a range of $85-$120 million.

Story Credit: investing.com

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