DoorDash Reports Mixed Q1 Results: EPS Miss, Sales Beat

DoorDash, Inc. DASH reported its first-quarter financial results after the bell Wednesday. Here's a look at the details. 

The Details: DoorDash reported quarterly losses of 6 cents per share which missed the analyst consensus estimate of losses of 4 cents by 50%.

The company posted quarterly sales of $2.513 billion which beat the analyst consensus estimate of $2.453 billion by 2.45% and represents a 23.49% increase over sales of $2.035 billion from the same period last year.

Total Orders increased 21% year-over-year to 620 million and Marketplace GOV increased 21% year-over-year to $19.2 billion.

“In Q1 2024, we set new quarterly records for Total Orders, Marketplace GOV, and revenue, while improving our net loss compared to a year ago. An evergreen goal for us is to execute at a high level against our operational targets, as this drives incremental scale and efficiency that we can reinvest to solve new problems for merchants, consumers, and Dashers,” the company said.

“We executed well from this perspective in Q1 2024, which helped us expand local commerce in the communities we operate in and increase our long-term growth and profit potential,”

Outlook: DoorDash sees Marketplace GOV in a range of $19 billion to $19.4 billion for the second quarter.

DASH Price Action: According to Benzinga Pro, DoorDash shares are down 11.85% after-hours at $111.28 at the time of publication Wednesday.

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