DoorDash: Strong Growth, Big Deals
Here's our initial take on DoorDash's (NASDAQ: DASH) financial report.The story for DoorDash in recent quarters has been the company's success in translating the benefits of scale into profits. The tech platform is an undisputed leader in connecting consumers to local businesses, a field in which it is helpful to spread as much revenue as possible over your fixed costs for having delivery people on the ready.DoorDash grew the top line by 20% in the quarter and swung from a quarterly loss a year ago into a profit, surpassing Wall Street expectations for earnings and slightly missing on revenue. Total orders grew by 18% to 732 million, and marketplace gross order value was up 20% to $23.1 million.Continue reading
Here's our initial take on DoorDash's (NASDAQ: DASH) financial report.
The story for DoorDash in recent quarters has been the company's success in translating the benefits of scale into profits. The tech platform is an undisputed leader in connecting consumers to local businesses, a field in which it is helpful to spread as much revenue as possible over your fixed costs for having delivery people on the ready.
DoorDash grew the top line by 20% in the quarter and swung from a quarterly loss a year ago into a profit, surpassing Wall Street expectations for earnings and slightly missing on revenue. Total orders grew by 18% to 732 million, and marketplace gross order value was up 20% to $23.1 million.
