:max_bytes(150000):strip_icc()/GettyImages-2197181491-f7f9532a5ce54cf184e4912be8e023f3.jpg?w=1920&resize=1920,1267&ssl=1 "DoorDash Stock Rises as Booming Holiday Orders Boost Revenue | Global News Avenue")
DoorDash Stock Rises as Booming Holiday Orders Boost Revenue
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Key Points
- Doordash orders jumped during the holidays and its revenue soared.
- Sales in the fourth quarter rose 25% year-on-year as orders rose 19%. Both beat the visible alpha prediction.
- The outlook for the total market order value of food delivery services also exceeds estimates.
doordash(sprint) Stocks rose Wednesday, the second day after catering services flocked to their platform during the holidays.
The company reported fourth-quarter revenue rose 25% year-on-year to $2.87 billion, surpassing the $2.84 billion estimate of analysts surveyed by the visible Alpha.
Total orders rose 19% to 685 million, up 11 million from expectations. Adjustment EBITDA It soared 56% to $566 million, which was also better than expected.
In the quarter, Doordash considered the total market order value (GoV), which totals the order value and subscription fee are $22.6 billion to $23 billion. The visible Alpha forecast is $22.4 billion.
After the report, JPMorgan raised its target from $155 to $205, while Deutsche Bank raised it from $224 to $246.
Doordash’s share price has risen 2.5% since November 2021.
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