DoorDash Inc beat quarterly revenue estimates, as the pandemic-era surge in food delivery stayed strong even after easing curbs and growing vaccination rates encouraged people to dine out more.
Companies like DoorDash and its UK peer Deliveroo Plc are benefiting from consumers getting used to food being delivered at their doorstep. The company said revenue rose 83% to $1.24 billion for the second quarter, beating analysts’ estimates of $1.08 billion, according to IBES data from Refinitiv. It reported a net loss of $102 million, compared with a profit of $23 million a year earlier. On a per share basis, it lost 30 cents. Analysts were expecting a loss of 20 cents per share.
The team at Platform Executive hope you have enjoyed the ‘DoorDash revenue beats as food delivery demand booms‘ article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Mehr Bedi and Praveen Paramasivam in Bengaluru. Editing by Devika Syamnath.
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