DoorDash Soars as Robust Delivery Demand Drives Sales Beat

(Bloomberg) -- DoorDash Inc. soared after the company reported revenue that beat analysts’ expectations, boosted by a record number of orders, showing customers’ appetite for takeout isn’t waning despite rising inflation.

Shares rose as much as 13% in premarket trading.

Revenue rose 30% in the second quarter to $1.6 billion, the San Francisco-based company said Thursday in a statement. That was better than analysts’ average projection of $1.52 billion, according to data compiled by Bloomberg.

“Our results speak to the strength in our business and resilience in our platform,” Vice President Ravi Inukonda said in an interview.

Customers placed 426 million orders in the three months ending June 30, jumping 23% from a year earlier. The value of those orders grew 25% to $13.1 billion, beating Wall Street’s expectations for $12.7 billion. The results are the first to combine financials from Helsinki-based Wolt since its acquisition by DoorDash in November. The all-stock deal, which was worth about $8 billion at the time of its announcement, closed in June.