Doordash Shares Soared More Than 25% in Premarket Trading

Tiger Newspress2022-02-17

Doordash shares soared more than 25% in premarket trading.

DoorDash Inc reported quarterly revenue on Wednesday that beat estimates as food delivery demand showed no sign of slowing, indicating ordering habits have changed permanently.

In the fourth quarter ended Dec. 31, higher-than-expected consumer retention and new customer growth helped DoorDash's revenue jump 34% to $1.30 billion and beat estimates of $1.28 billion, according to IBES data from Refinitiv.

San Francisco-based DoorDash also forecast first-quarter marketplace gross order value, the total value of all app orders and subscription fees, between $11.4 billion and $11.8 billion, versus $11.2 billion in the reported quarter.

Even in the face of inflation, consumers' persistent willingness to pay for the convenience of delivery should support demand, M Science analyst Matthew Goodman said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Swoosh
    2022-02-18
    Swoosh
    Revenue might be a problem as Omicron wanes. 
  • Mml
    2022-02-17
    Mml
    Hmmmm
  • Annalz
    2022-02-17
    Annalz
    We trust Doordash 
  • Alihuat
    2022-02-17
    Alihuat
    Man.. didnt manage to catch this stock earlier...
  • Coyotero
    2022-02-17
    Coyotero
    Greta
  • YongJie
    2022-02-17
    YongJie
    Wa
Leave a comment
8