Doordash 's stock climbed 10% during extended trading on Wednesday, recovering from an initial downswing after the food delivery platform issued disappointing fourth-quarter results and guidance.
The stock plunged 10% following the release of the company's financials.
Here's how the company did versus LSEG estimates:
Earnings per share: 48 cents vs. 59 cents expected $0.59 Est.
48 cents vs. 59 cents expected $0.59 Est. Revenue: $3.96 billion vs. $3.99 billion Est.
Revenue for the period increased 38% from about $2.87 billion last year.
The company said total orders grew 32% year over year to 903 million, while marketplace gross order value, which tracks the total dollar value of orders, jumped 39% to $29.7 billion.
Estimates had significantly come down following the company's disappointing third-quarter results.
In a letter to shareholders, CEO Tony Xu said Doordash is actively building new products and systems to enhance user experiences.
One of those projects includes creating a single platform that integrates Doordash, Deliveroo and Wolt, which he called a "massive and expensive undertaking."
... continue reading