Article Hero

DoorDash topped revenue but missed earnings forecast

1620994731.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 May 2021
The online food ordering and food delivery company reported mixed quarterly results

For the fiscal first quarter, DoorDash reported revenue figures that came ahead of the $993.3 million consensus at $1.08 billion. Total orders reached 329 million during the quarter. On the other hand, it had a loss per share of 34 cents, higher than the 26 cents expected.

The company encountered some setbacks during the quarter, as delivery drivers were in short supply. However, the problem was resolved towards the end of the three months. Here’s what DoorDash executives had to say: “Stronger-than-expected consumer demand, along with extreme weather events and the impact of stimulus checks, resulted in a meaningful undersupply of Dashers in the latter part of Q1.”

Despite the mixed results, DoorDash raised its 2021 forecast for gross order value to between $35 billion and $38 billion, up from a previous range of $30 billion to $33 billion. It also widened its forecast range for the adjusted EP to $0 - $300 million.

At the moment of writing, DoorDash stock price is trading 8.57% higher.

Sources: cnbc.com, finance.yahoo.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.