DoorDash (NYSE:DASH) shares rose more than 5% after-hours following the company’s reported Q1 earnings, with EPS of ($0.41) coming in better than the consensus estimate of ($0.58).
Revenue grew 40% year-over-year to $2.04 billion, beating the consensus estimate of $1.93B, driven by growth in Marketplace GOV, the addition of Wolt, improved logistics efficiency, and lower credits and refunds as a percentage of Marketplace GOV.
Total Orders grew 27% year-over-year to 512 million in Q1, driven by growth in consumers and consumer engagement and the addition of Wolt.
Marketplace GOV rose 29% year-over-year to $15.9B in Q1, driven primarily by organic growth in Total Orders and the addition of Wolt.
For Q2/23, the company expects marketplace GOV in the range of $15.9B-$16.2B and adjusted EBITDA of $180M-$230M.
For the full year, the company expects marketplace GOV in the range of $63.0B-$64.5B and adjusted EBITDA of $600M-$900M.