DoorDash Inc. reported first-quarter revenue that beat analysts’ estimates,
the sustained demand in food delivery even as restaurants begin to reopen and more people get vaccinated.
The shares jumped about 7 percent in extended trading.
Sales increased 198 per cent in the three months ended March 31,
the company said in a statement Thursday.
Revenue totaled US$1.1 billion, surpassing Wall Street’s expectations.
That growth came at a cost, however.
A net loss of US$110 million, or 30 cents a share,
was wider than an average of analysts’ estimates compiled by Bloomberg.