DoorDash shares pop 13% on second-quarter revenue beat

Shares of DoorDash popped 13% in extended trading on Thursday after the company reported second-quarter results that beat analysts’ expectations for revenue.

Here’s how the company did, according to LSEG analyst expectations:

• Loss per share: 38 cents, which may not compare with the expected loss of 9 cents
• Revenue: $2.63 billion vs. $2.54 billion expected

DoorDash’s revenue increased 23% from $2.13 billion a year earlier. It narrowed its net loss to $157 million, or a loss of 38 cents per share, from $170 million, or a loss of 44 cents per share, during the same period last year.

The delivery service company said it received 635 million total orders in the quarter, up 19% year over year. DoorDash said its Marketplace GOV, which it defines as the total value of orders, was $19.71 billion, marking an increase of 20% from the year prior.

For its third quarter, DoorDash said it expects to report Marketplace GOV between $19.4 billion and $18.8 billion. Analysts were expecting $19.51 billion, according to StreetAccount estimates.

“We are very pleased with our financial performance in Q2 2024, as it reflects years of investment and product-level focus that drove strong growth and improved unit economics in several major areas of our business,” the company wrote in a release Thursday.

DoorDash will hold its quarterly call with investors at 5:00 p.m. ET.