DoorDash stock soars on revenue beat, order growth

BRIAN SOZZI: Shares of DoorDash in focus as the company reported quarterly results that missed on earnings but beat on revenue, as the food delivery service saw total orders grow 27% year over year. And I would say this is another just strong quarter from DoorDash, when I would argue a market looking for them to slow down given people back out there being mobile, perhaps at home less ordering goods. But orders up 47% year over year, that was an acceleration from the run rate from earlier in the year, which was 35%. Adjusted operating profits almost doubled year over year good. Quarter from DoorDash.

JULIE HYMAN: Yeah. I mean, the net loss might have missed, but EBITDA beat. And I think that for many of these companies that are pre-profit, to put it diplomatically, that that’s what investors are focusing on for a lot of them. So that EBITDA coming in at $87 million. Analysts were looking for $58.5 million. So that’s a pretty big beat when you’re talking about the EBITDA line there. And people are just getting out there again and still ordering stuff.

BRAD SMITH: Oh yeah, “me” is all I wrote over top of this particular earnings report, because my caviar orders have gone through the roof and I’m at least 15% of this 27% growth that they saw in net total orders.

JULIE HYMAN: Are you ordering caviar?

BRAD SMITH: Too much. Too much. No, I can’t. Actually–

BRIAN SOZZI: He sent me a steak the other night. It was great. No, I’m just kidding.

BRAD SMITH: But we did have a good burger last weekend. Net losses, though, they did widen, even within this growth effort that we’ve seen. So it’s really a question of where the consumers will continue to spend on food as they’re kind of tightening some of those budgets within the household as well. Do you do more of the cooking at home or do you continue to say, all right, let’s just spotlight two or three nights during the week that we decide to still dial in the DoorDash?


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