DoorDash hits new record for orders, revenue in second quarter
The San Francisco-based delivery company said Wednesday that its total orders rose 25% to 532 million for the April-June period. That was ahead of Wall Street’s forecast of 521 million, according to analysts polled by FactSet.DoorDash raised its full-year forecast Wednesday. The company said it now expects gross order values between $64.2 billion and $65.2 billion for the year, up from the $63 billion to $64.5 billion previously forecast.
Inukonda said innovation __ including making it easier for customers to search for products on the DoorDash app __ is another reason the company continues to gain market share in all the markets in which it operates. And the company said improved logistics are helping driver efficiency. DoorDash narrowed its net loss to $172 million in the second quarter, from a loss of $263 million in the same period a year ago. The company lost 44 cents per share, which was higher than the 41 cent per-share loss Wall Street forecast, according to FactSet.
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