DoorDash Stock Is Delivering An After-Hours Pop Thursday: What's Going On?

DoorDash Stock Is Delivering An After-Hours Pop Thursday: What's Going On?

DoorDash Inc DASH shares are up more than 10% after hours after the company reported third-quarter financial results showing strong order demand trends.

DoorDash reported third-quarter revenue of $1.7 billion, which beat average analyst estimates of $1.63 billion, according to Benzinga Pro. The company reported a quarterly net loss of 77 cents per share, which missed average estimates for a loss of 60 cents per share. 

Gross order value increased 30% year-over-year to $13.5 billion. DoorDash said stand-alone monthly active users increased on a quarter-over-quarter and year-over-year basis, while DashPass members jumped to an all-time high. 

"There have been several aspects of the macroeconomic backdrop in recent years that we did not anticipate, with periods of both rising and falling demand from consumers and Dashers. Through this, contribution profit as a percentage of Marketplace GOV in our U.S. restaurant marketplace has increased consistently, with underlying mechanics that have worked largely as expected," the company said in a letter to shareholders.

DoorDash said it expects to continue improving along all dimensions of the consumer value proposition, as it sees "substantial room to improve" the selection, quality, affordability and service in its non-restaurant categories.

See Also: Why Block Shares Are Ripping Higher After Hours

DASH Price Action: DoorDash has a 52-week high of $152.49 and a 52-week low of $41.36.

The stock was up 11.6% in after hours at $53.30 at the time of writing.

Photo: GoToVan from Flickr.

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