DoorDash Drops 7% Despite Q4 Beat

DoorDash Drops 7% Despite Q4 Beat Feb. 16, 2024, 10:56 a.m., readers: 16

DoorDash (NASDAQ:DASH) exceeded expectations with its fourth-quarter adjusted earnings and provided a positive outlook, driven by a significant increase in orders that fueled revenue growth. Despite the positive report, DoorDash's shares dropped by 7% pre-market today. The company announced an adjusted profit of $363 million, surpassing Wall Street's forecast of $356 million, on revenues of $2.3 billion, which also exceeded the expected $2.25 billion. The total value of orders placed through the DoorDash app surged by 22% to $17.64 billion, with the total number of orders increasing by 23% to 574 million. For the first quarter, DoorDash projects the total value of app orders to be between $18.5 billion and $18.9 billion, with adjusted earnings ranging from $320 million to $380 million. This forecast is in comparison to the analysts' prediction of adjusted earnings at $358.9 million. Looking into 2024, DoorDash anticipates the total app order value to range from $74 billion to $78 billion and expects adjusted profits to be between $1.5 billion and $1.9 billion, compared to analysts' expectations of an adjusted profit of $1.63 billion.

About NYSE: DASH

D oorDash, Inc. operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service;

Price: 133.84
Market cap: 54.1 billion USD
Eps: -1.42
P/e ratio: -94.25
Focus Analysis On: DASH
All news about: DASH