DoorDash Inc. (DASH) stock surged over 5% in the pre-market trading session on Wednesday, following the company's strong fourth-quarter results. The food delivery giant reported a 25% year-over-year increase in revenue to $2.87 billion, surpassing analyst estimates of $2.84 billion. This impressive performance was driven by a growing user base and higher order frequency.
Highlights from DoorDash's Q4 2024 results include:
DoorDash's strong performance can be attributed to its successful expansion into new verticals, such as grocery and retail, and its growing international presence. The company's focus on improving operational efficiency and reinvesting in its business has paid off, allowing it to reach more customers and drive higher engagement.
Looking ahead, DoorDash provided an optimistic outlook for the first quarter of 2025. The company expects Marketplace GOV to be between $22.6 billion and $23 billion, exceeding analyst expectations of $22.4 billion. Additionally, DoorDash announced a $5 billion share repurchase program, reflecting its confidence in future growth prospects and cash flow generation.
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