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DoorDash adjusted earnings beat estimates in Q4 amid boost from jump in orders

AuthorYasin Ebrahim
Published 2024-02-15, 04:52 p/m
© Reuters
DASH
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Investing.com -- DoorDash reported Thursday better-than-expected adjusted earnings in the fourth quarter and upbeat guidance as a surge in orders boosted revenue.   

DoorDash Inc (NASDAQ:DASH) fell 7% in afterhours trading. 

Door Dash reported an adjusted profit of $363 million, beating Wall Street estimates of $356 million on revenue of $2.3 billion, which was also above estimates of $2.25B.

Total order value on the DoorDash app rose 22% to $17.64B, with the total number of orders swelling 23% to 574M.

Looking ahead to Q1, the company forecast total app order value in a range of $18.5B and $18.9B, and adjusted earnings for the current quarter between $320 million and $380 million. Analysts polled by Capital IQ were forecasting adjusted earnings of $358.9M. 

For 2024, the company guided total app order value of between $74B to $78B and an adjusted profit of $1.5B to $1.9B. Analysts were expecting adjusted profit of $1.63B.

 

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