DoorDash Q4 Earnings: Revenue Beat, EPS Miss, Total Orders Up 23% And More

DoorDash Inc DASH reported fourth-quarter financial results Thursday after the bell. Here’s a rundown of the report.

Q4 Earnings: DoorDash said fourth-quarter revenue increased 27% year-over-year to $2.3 billion, which beat the consensus estimate of $2.24 billion, according to Benzinga Pro. The company reported a quarterly loss of 39 cents per share, which missed analyst estimates for a loss of 18 cents per share.

Total orders increased 23% year-over-year to 574 million, and marketplace GOV jumped 22% year-over-year to $17.6 billion.

“Throughout the year, we invested aggressively to improve our offerings and launched new products and features that expanded our potential in local commerce. We are proud that our innovation and investment helped generate nearly $50 billion in sales for local merchants and over $15 billion in earnings for more than 7 million Dashers in 2023,” the company said.

Outlook: DoorDash said it expects first-quarter marketplace GOV to be between $18.5 billion and $18.9 billion. The company sees first-quarter adjusted EBITDA in the range of $320 million to $380 million.

“In 2024, our focus will not change. We will invest to build tools that solve problems for consumers, merchants, and Dashers, while expanding the scale, breadth, and profit potential of our business,” the company said.

DoorDash also announced that its board approved a share repurchase program of up to $1.1 billion in February.

Management will hold a conference call to discuss these results at 5 p.m. ET.

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DASH Price Action: DoorDash shares were down 8.77% after hours at $115.25 at the time of writing, according to Benzinga Pro.

Photo: Shutterstock.