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Cornerstone Blog DoorDash beats sales estimates on resilient food-delivery

DoorDash beats sales estimates on resilient food-delivery

May 19, 2021 by Cornerstone International Group

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.

Read the full article here…

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Filed Under: Cornerstone Blog Tagged With: #fooddelivery

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