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.