DoorDash Shares Soar 17% on Q2 Revenue Beat & Guidance, EPS Misses Estimates
2022.08.05 01:46
DoorDash Shares Soar 17% on Q2 Revenue Beat & Guidance, EPS Misses Estimates
By Investing.com Staff
DoorDash Inc (NYSE:DASH) shares surged more than 17% after-hours following the company’s reported Q2 results, with revenue coming in at $1.61 billion (up 30% year-over-year), beating the consensus estimate of $1.52 billion. EPS was ($0.72), worse than the consensus estimate of ($0.21).
Q2 Total Orders increased 23% year-over-year to 426 million, driven by 20% year-over-year growth in DoorDash orders and the addition of Wolt.
Marketplace GOV increased 25% year-over-year to $13.1 billion, driven by 22% year-over-year growth in DoorDash Marketplace GOV and the addition of Wolt.
“In Q2, we drove strong growth in Total Orders and Marketplace GOV, continued expanding Contribution Profit as a percentage of Marketplace GOV in our U.S. Restaurant Marketplace, and were thrilled to complete our combination with Wolt. Joining forces with Wolt increases the size of our opportunity ahead and significantly enhances our talent. This should enable us to remain focused on superb product development and efficient execution as we seek to drive growth in local commerce around the world,” said Tony Xu, Co-founder, CEO and Board Chair of DoorDash.
The company expects Q3 Marketplace GOV in a range of $13.0-$13.5 billion and adjusted EBITDA in a range of $25-$75 million. For the full 2022-year, the company expects Marketplace GOV to be in a range of $51.0-$53.0 billion and adjusted EBITDA in a range of $200-$500 million.
