Shares of DoorDash, Inc. (DASH) soared 6.96% in the after-hours session on Tuesday following the release of the company's fourth-quarter 2024 earnings report. DoorDash surpassed analyst expectations, driven by robust demand for online orders during the holiday season.
The food delivery giant reported revenue of $2.87 billion for the quarter, up 25% year-over-year and exceeding the consensus estimate of $2.84 billion. Total orders for the quarter rose 19% to 685 million, outpacing the expected 673.04 million. Customers turned to DoorDash's platform for everything from food and groceries to alcohol during the holidays, fueling the strong top-line performance.
Looking ahead, DoorDash guided for first-quarter 2025 marketplace gross order value (GOV) of $22.6-23 billion, surpassing the analyst consensus of $22.4 billion. The company's shares jumped in after-hours trading, reflecting investors' confidence in DoorDash's ability to capitalize on the growing "convenience economy."
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