DoorDash Stock Dips Slightly After Better-Than-Expected Q3 Results
DoorDash, Inc. (NASDAQ:DASH) reported its third-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: DoorDash reported quarterly earnings of 38 cents per share, which beat the analyst consensus estimate of 22 cents. The company reported quarterly sales of $2.7 billion, which beat the analyst consensus estimate of $2.66 billion and is an increase over sales of $2.16 billion from the same period last year.
Total Orders increased 18% year-over-year to 643 million in the third quarter and Marketplace GOV increased 19% year-over-year to $20 billion. The company said growth in Total Orders was driven by growth in consumers and growth in average consumer engagement.
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“In Q3 2024, we continued to drive strong growth in Total Orders, Marketplace GOV, and revenue, while generating positive GAAP net income for the first time as a public company,” DoorDash said in its earnings release.
“Our goal is to build a large and durable business that helps local merchants succeed and expands the potential of local economies. To do this, we must consistently invest in our existing services, launch entirely new services, and ensure we are generating strong returns on capital, so that we can invest even more in the future,” DoorDash added.
DASH Price Action: According to Benzinga Pro, DoorDash shares are down 0.46% after-hours at $154.54 at the time of publication Wednesday.
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