DoorDash shares rally after company reports continued growth in the second quarter, saying that its food-delivery business remains healthy despite economic uncertainty
DoorDash Inc. on Thursday reported continued growth in the second quarter, saying that its food-delivery business remains healthy despite economic uncertainty, but its loss was worse than what Wall Street expected.
Gross order value grew to $13.1 billion, exceeding analysts’ estimates of $12.84 billion. Total orders increased to 426 million, above the 419 million analysts expected. The company posted a loss of $263 million, or 72 cents a share, compared with a loss of $102 million, or 30 cents a share, in the year-ago period. DoorDash attributed $45 million of that loss to Wolt. Revenue rose to $1.6 billion from $1.24 billion in the year-ago quarter.
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