DoorDash Shares Surge 11.8% After Hours on Positive Q3 Outlook
Sectors & Industries
August 5, 2024
DoorDash Inc.'s third-quarter forecast for a key demand metric exceeded Wall Street's expectations on Thursday. However, the delivery app reported a larger-than-expected loss in the second quarter due to investments in expanding its delivery offerings and locations.
DoorDash shares rose 11.8% after-hours on August 1st despite a larger-than-expected Q2 loss of $157 million.
Revenue increased 23% to $2.63 billion, driven by strong consumer adoption and efficiency improvements.
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