Doordash 's stock climbed 14% 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.
On the analyst call, CEO Tony Xu stated his confidence in the company's investments and touted strong performance from Deliveroo, the British food delivery platform it acquired last year, saying it is growing much faster at the same profit.
In a letter to shareholders, Xu said Doordash is actively building new products and systems to enhance user experiences.