in 2022 Q2 earnings for DoorDash ( DASH ).

DoorDash delivery person

Source: DoorDash

DoorDash reported second quarter results after a call Thursday that beat Wall Street’s earnings expectations but showed a bigger-than-expected loss per share.

DoorDash shares were up 18% in after-hours trading.

Here’s how the company fared:

  • Loss per share: 72 cents, compared with the 41 cents analysts expected, according to Refinitiv.
  • Income: According to Refinitiv, 1.61 billion

DoorDash said its total delivered orders rose 23% year-over-year to 426 million, an all-time high.

Revenue grew by 30% year over year, which the company attributed to increased order frequency and more active monthly users.

DoorDash said it expects a “softer consumer spending environment” in the second half of the year. It warned investors that consumer spending could deteriorate faster than expected, leading to weaker-than-expected results.

The company said it expects adjusted EBITDA to fall between $25 million and $75 million in the third quarter.

DoorDash said it was aware of the challenging macroeconomic environment for users as it grappled with uncertainty and high inflation, but it had not seen a change in engagement with its U.S. customers.

“While we have seen some outward signs of changes in consumer discretionary spending, to date we have not seen changes in consumer engagement in our US trade that are measurable or distinguishable from normal seasonal patterns,” the company said.

To offset the impact of high gas prices, DoorDash spent more than $40 million in the second quarter. The company extended the gas saving program until August.

During the quarter, the company completed the acquisition of international food delivery platform Wolt. Wolt made $12 million. of all DoorDash orders.

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