SAN FRANCISCO - DoorDash Inc. (NASDAQ:DASH) reported better-than-expected second quarter revenue on Thursday, sending shares soaring 13% in after-hours trading as the food delivery company continues to see strong demand.
The company posted revenue of $2.63 billion for the quarter, surpassing analyst estimates of $2.54 billion and representing a 23% increase YoY. Total orders grew 19% YoY to 635 million.
However, DoorDash reported a wider-than-expected loss for the quarter. The company's Q2 adjusted loss per share came in at -$0.38, missing the -$0.09 loss analysts were expecting.
"Our aim is to build a large and durable business by building services that expand the potential of local commerce," said Tony Xu, DoorDash CEO, in a statement. "We are very pleased with our financial performance in Q2 2024, as it reflects years of investment and product-level focus that drove strong growth and improved unit economics in several major areas of our business."
For the third quarter, DoorDash expects Marketplace GOV between $19.4 billion and $19.8 billion, with adjusted EBITDA of $470 million to $540 million.
The company noted that its outlook assumes stable foreign currency rates and anticipates ongoing investments in new categories and international markets. DoorDash cautioned that changes in consumer spending or the international operating environment could impact results.
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