Why DoorDash Shares Are Rising After Hours

DoorDash Inc DASH shares are trading higher in Thursday's after-hours session after the company reported financial results.

DoorDash said first-quarter revenue increased 35% year-over-year to $1.46 billion, which beat the $1.37 billion estimate, according to data from Benzinga Pro. The company reported a net loss of 48 cents per share, which was worse than estimates for a loss of 41 cents per share.

DoorDash said it grew monthly active users and DashPass members to new record highs. Average order frequency climbed to record highs as well.

Marketplace GOV by 25% year-over-year to $12.4 billion, which helped generate over $8.7 billion in sales for merchants and over $3.2 billion in earnings for Dashers.

Total Orders grew 23% year-over-year to 404 million.

DoorDash is an online food order demand aggregator.

DASH 52-Week Range: $70.50 - $257.24

The stock was up 8.93% in after-hours at $79.68 at press time.

Photo: Tony Webster from Flickr.