DoorDash Pops As Record Orders Drive Guidance Higher



© Reuters

By Dhirendra Tripathi

Investing.com – DoorDash (NYSE:) shares jumped nearly 14% Friday after the company raised its guidance for 2021 on the back of a strong first quarter performance.

The online food delivery platform said it generated more earnings for its partners than in any previous quarter and served more consumers than it ever has.

The online food delivery platform now expects its 2021 gross order value to be in a range of $35 billion to $38 billion. This range was earlier estimated to be $30 billion to $33 billion.

Adjusted EBITDA could now touch $300 million for the year as against $200 million, according to the company’s previous estimates.

Revenue in the March quarter almost trebled, rising 198% from a year ago to $1.07 billion, benefiting from stimulus checks and ongoing stay-at-home behavior that boosted demand for food delivery.

Total orders grew 219%, to 329 million, and marketplace gross order value grew 222%, to $9.9 billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

See also  UK's BT extends full-fibre broadband to 4.5 million premises





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here