2023-08-02 16:21:16 ET
DoorDash ( NYSE: DASH ) jumped in postmarket trading after reporting what it said was its best quarter ever for revenue, total orders, and Markerplace GOV.
The food delivery company tallied 532M orders (+25% Y/Y) during the quarter to top the consensus mark of 511.6M orders. Marketplace gross order value was up 26% to $16.5B vs. $15.7B consensus. All that activity helped push DoorDash's ( DASH ) revenue up 33% year-over-year to $2.13B vs. $2.06B consensus. Net revenue margin improved to 13.0% from 12.1%.
Of note, contribution profit was $620M vs. $381M a year ago and the consensus estimate of $555M. Adjusted EBITDA was $279M compared to the company's guidance range of $180M to $230M and the $103M generated a year ago.
Operating cash flow in Q2 was $393M and free cash flow was $311. On a trailing 12-month basis, DASH generated free cash flow of $653M.
DoorDash ( DASH ) expects full-year marketplace GOV of $64.2B to $65.2B vs. $62.7B consensus. Full-year adjusted EBITDA of $750M to $1.05B is anticipated vs. $600M to $900M prior outlook and $826M consensus.
Shares of DASH jumped 6.42% to $91.50 following the earnings topper.
More on DoorDash:
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- Seeking Alpha's Quant Rating for DoorDash
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DoorDash rallies after tallying record number of orders