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DoorDash topped analysts’ estimate for quarterly revenue and total orders on Tuesday, as customers turned to its online platform to buy everything from food and groceries to alcohol during the holiday season.
Americans have increasingly grown fond of the convenience of ordering food online and shopping on smartphones and tablets for even the smallest items, buoying the bottom line for delivery platforms such as DoorDash and Instacart.
DoorDash posted a profit of $141 million compared with a loss of $154 million a year ago. The company said it would buy back shares worth up to $5 billion during fiscal 2025, a boost from the $1.1 billion it announced for 2024.
The company’s fourth quarter revenue rose 25% to $2.87 billion. That compares with analysts’ average estimate of $2.84 billion, according to data compiled by LSEG.
Total orders rose 19% to 685 million, compared with the estimate of 673.04 million.
