DoorDash (DASH) reported third-quarter results late Thursday that missed on earnings but beat on revenue. DASH stock jumped.
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The food delivery company reported an adjusted loss of 77 cents a share on revenue of $1.7 billion. Wall Street expected DoorDash to report a loss of 59 cents on revenue of $1.62 billion.
Dash stock surged 12% to 53.50, during after-hours trading on the stock market today.
DoorDash said total orders in the third quarter increased 27% from the year-ago period to 439 million.
It expects gross order value in the fourth quarter to be between $13.9 billion and $14.2 billion, which is higher than analyst estimates.
“Over the long term, our goal with our new categories and international initiatives is to broaden the value we provide to consumers, merchants and Dashers, while generating significant incremental profit for our business,” the company said in a written statement.
“Given the scale of these opportunities, we expect them to take many years to fully develop. So far, our team has executed well and we have seen good results,” the company went on to say.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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