DoorDash Forecasts Profit Growth as Customers Keep Ordering Takeout
- First-quarter adjusted Ebitda set to exceed analyst forecasts
- Prabir Adarkar named president to replace Christopher Payne
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DoorDash Inc. shares jumped Friday morning after an optimistic earnings report that showed resilient demand for pricey takeout even amid a cost-of-living squeeze. The company also said its president would be stepping down as part of a slate of executive changes.
DoorDash is anticipating adjusted earnings before interest, tax, depreciation and amortization of $120 million to $170 million in the first quarter, the San Francisco-based company said Thursday in a statement. The midpoint of that range exceeds the $129.7 million Wall Street estimated. The company sees order values of $15.1 billion to $15.5 billion, beating expectations for $14.6 billion.