DoorDash reported earnings that exceeded estimates. The food delivery service reported revenue of $ 970 million and adjusted EBITA of $ 94 million, easily exceeding estimates of $ 926.71 million in expected revenue and $ 298 million year-on-year $ 92.97 million expected adjuste4d EBITA. Emily McCormick of Yahoo Finance explains the details.
Video transcription
ADAM SHAPIRO: DASH trading down after hours. We have their earnings report. Ines Ferre is examining what they have to say. What are they telling us?
INES FERRE: Well, Adam, the revenue reached $ 970 million. That was a hit. Total orders grew 233% year on year, to 273 million. That was also a hit.
Also looking at the market, the order’s gross value was $ 8.2 billion. That was also a hit. But the company says the prospects for fiscal year 2021 are highly uncertain. This may be why you are seeing inventory after business hours drop, because in order totals, it is a hit, the gross amount of the order, it is a hit, recipes, a hit.
ADAM SHAPIRO: Everything is fine. Ines Ferre giving us the details of DoorDash in her earnings report.