DoorDash Forecast Falls Short on Scrutiny Over Profitability
- Grocery order value doubles for third straight quarter
- DoorDash shares tumbled 15% in extended trading on the results
A delivery worker carries a DoorDash bag in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
DoorDash Inc., the largest food delivery service in the US, offered a disappointing profit forecast for the current quarter as the company invests in expanding its list of non-restaurant partners and improving efficiency.
DoorDash expects adjusted earnings before interest, tax, deprecation and amortization for the current quarter of $325 million to $425 million, the midpoint of which falls well below the average estimate. In the first quarter, DoorDash reported Ebitda of $371 million, higher than analysts’ expectations.