DoorDash's stock drops despite reporting increase in revenue, orders

By Jon Swartz

DoorDash Inc.'s stock slid about 7% in after-hours trading Thursday after the food-delivery company delivered quarterly results.

DoorDash (DASH) reported a fiscal fourth-quarter net loss of $154 million, or 39 cents a share, compared with a net loss of $640 million, or $1.65 a share, in the same quarter a year ago.

Revenue jumped 27% to $2.3 billion, from $1.82 billion in the year-ago quarter.

The company's gross order value (GOV), or the total dollar value of all orders made on its platform, improved 22% to $17.64 billion. DoorDash had guided for $17 billion to $17.4 billion, and analysts polled by FactSet predicted $17.3 billion.

Analysts surveyed by FactSet had, on average, expected a net loss of 13 cents a share on revenue of $2.25 billion.

The company offered first-quarter GOV guidance of $18.5 billion to $18.9 billion, while FactSet analysts are forecasting $18.61 billion.

Shares of DoorDash have surged 89% over the past 12 months. The broader S&P 500 index SPX has increased 23%.

-Jon Swartz

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

02-15-24 2014ET

Copyright (c) 2024 Dow Jones & Company, Inc.