DoorDash (NYSE:DASH) shares rose more than 3% intra-day today following the company’s release of a full-year forecast that surpassed expectations.
The company reported a loss per share of $0.44 on revenue of $2.13 billion for Q2. The expected loss per share was $0.41, and revenue was projected to be $2.06 billion. The number of orders rose by 25% year-over-year, reaching 532 million. Moreover, the marketplace gross order value witnessed a significant 26% increase, reaching $16.47 billion.
For the current quarter, DoorDash anticipates a marketplace gross order value of $16 billion, surpassing the Street estimate of $15.4 billion. Additionally, the full-year forecast for the marketplace gross order value is now projected to be $64.7 billion, up from the previous forecast of $63.75 billion, and exceeding the Street estimate of $62.66 billion.