DoorDash rises after reporting 35% revenue growth

DoorDash shares were up more than 10% in long-term trading after the company reported 35% revenue growth in the first quarter, suggesting the company's core home delivery business can still grow even after the surge caused by the pandemic.

However, during Thursday's regular trading session, the stock broke, falling more than 10% overall on a bad day for markets.

Here's how DoorDash handles Refinitiv's consensus rankings:

• Loss per share: $0.48 loss per share compared to an expected loss of $0.41 per share
• Revenue: $1.46 billion vs. estimated $1.38 billion

DoorDash said the total number of orders shipped during the quarter was up 23% to 404 million and had seen the newest customers since the first quarter of 2021, which comes during a significant wave of Covid infections in the United States. Service state.

However, DoorDash saw a much slower revenue growth than the same quarter of 2021, when net revenue nearly tripled. DoorDash said its EBITDA, which excludes certain expenses, such as labor classification disputes and taxes, increased to $54 million from $43 million in March 2021.

In a news to investors, the company said that DoorDash has a share of the grocery store market in the United States and plans to spend the money generated by grocery shopping to move it into other categories, including groceries, alcohol, and retail.

The company also said it paid fewer incentives and promotions to attract delivery workers than the first quarter of 2021.