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DoorDash (DASH) earnings Q2 2022

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DoorDash supply individual

Source: DoorDash

DoorDash reported second-quarter results after the bell Thursday that beat Wall Street’s income expectations however confirmed a larger loss per share than anticipated.

Shares of DoorDash popped 18% in after-hours buying and selling.

Here’s how the corporate did:

  • Loss per share: 72 cents vs. 41 cents anticipated by analysts, in accordance with Refinitiv.
  • Revenue: $1.61 billion vs. 1.52 billion anticipated by analysts in accordance with Refinitiv.

DoorDash stated the overall variety of orders it delivered grew 23% 12 months over 12 months to 426 million, an all-time excessive.

Revenue grew 30% 12 months over 12 months, which the corporate attributed to elevated order frequency and extra month-to-month energetic customers.

DoorDash stated it anticipates a “softer consumer spending environment” within the second half of the 12 months. It cautioned traders that shopper spending might deteriorate quicker than anticipated, which might drive outcomes beneath its expectations.

The firm stated it expects adjusted EBITDA to fall between $25 million and $75 million within the third quarter, a variety that covers analyst expectations of $51.2 million, in accordance with StreetAccount.

DoorDash stated it’s conscious that difficult macroeconomic situations exist for customers as they grapple with uncertainty and excessive ranges of inflation however that it has not seen adjustments in its U.S. buyer engagement.

“Although we have noticed several external indications of shifts in consumer discretionary spending, so far we have not seen changes to consumer engagement on our U.S. Marketplace that are measurable or distinguishable from normal seasonal patterns,” the corporate stated.

In order to offset the impression of excessive gasoline costs, DoorDash spent over $40 million offering additional gasoline financial savings and mileage-based bonus funds to drivers within the second quarter. The firm has prolonged its gasoline financial savings program by August.

The firm accomplished its acquisition of worldwide meals supply platform Wolt in the course of the quarter. Wolt accounted for 12 million of DoorDash’s complete orders.


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