DoorDash Inc has reported quarterly revenue that beat estimates.
DoorDash was propped by a maintained surge in food delivery demand.
After Wednesday’s bell, the company’s shares were up 24%.
Analysts expect DoorDash and rivals Uber Eats and Grubhub to show strong growth for several years as people grow accustomed to having food delivered to their doorsteps.
In the fourth quarter ended Dec. 31, DoorDash’s revenue jump 34% to $1.30 billion and beat estimates of $1.28 billion on higher-than-expected consumer retention and new customer growth.
DoorDash also forecast first-quarter marketplace gross order value, the total value of all app orders and subscription fees, between $11.4 billion and $11.8 billion, versus $11.2 billion in the reported quarter.
DoorDash also forecast core earnings in a range of break-even to $500 million for fiscal 2022, compared with estimates of $455.1 million.
