DoorDash Gains Most in a Year on Record Orders, Strong Outlook
- Company saw 24% growth in gross order value, a key metric
- Sales buoyed by grocery, retail and non-restaurant delivery
The company expects fourth-quarter gross order value to be $17 billion to $17.4 billion, implying an upward revision of its 2023 outlook.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
DoorDash Inc. soared by the most in a year after reporting a record volume of customer orders in the third quarter and raising its outlook for the year, underscoring its dominance in food and retail delivery markets.
The company reported 543 million orders in the three months ending in September, it said in a statement Wednesday, far exceeding analysts’ expectations. Gross value of those orders — a key metric for online delivery firms — was $16.8 billion, higher than the $15.9 billion estimated.