KEY TAKEAWAYS
- DoorDash shares are sinking Tuesday after the food-delivery company posted first-quarter revenue that undershot analysts’ forecasts.
- The San Francisco-based company reported Q1 revenue of $3.03 billion, below the $3.10 billion expectation of analysts polled by Visible Alpha. Earnings per share of $0.44 topped estimates of $0.39.
- DoorDash separately announced Tuesday that it was buying U.K. firm Deliveroo for nearly $4 billion and restaurant booking platform SevenRooms for $1.2 billion.
DoorDash shares are sinking Tuesday after the food-delivery company posted first-quarter revenue that undershot analysts’ forecasts.
DoorDash—which separately announced that it was buying U.K. firm Deliveroo for nearly $4 billion and restaurant booking platform SevenRooms for $1.2 billion—had announced yesterday that it was moving forward its results to before markets opened Tuesday instead of after the bell Wednesday.
The San Francisco-based company reported Q1 revenue of $3.03 billion, below the $3.10 billion expectation of analysts polled by Visible Alpha. Earnings per share of $0.44 topped estimates of $0.39.
For the second quarter, DoorDash sees Marketplace GOV—the total dollar value of orders completed on its Marketplaces—of $23.3 billion to $23.7 billion and adjusted EBITDA between $600 million and $650 million. Analysts expect $23.5 billion and $633.1 million, respectively, per Visible Alpha.
DoorDash shares sank 8% soon after the opening bell. They are up 12% this year.
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