DoorDash Stock Rises 9% on Fourth-quarter Revenue Beat; COO Will Depart

DoorDash Inc (NYSE:DASH) shares jumped more than 9% after-hours on the release of the company's Q4 earnings, with revenue of $1.82 billion (up 40% year-over-year) above the consensus forecast of $1.77 billion as customer demand remains robust.

Compared to the consensus expectation of ($0.67), Q4 EPS was ($1.65). Overall orders increased by 27% year-over-year to 467 million, due to growth in customers and consumer interaction at DoorDash, as well as the company's acquisition of Wolt. At $14.4B, Q4 Marketplace GOV surged 29% year-over-year.

Monthly Active Users (MAUs) in December grew to over 32M from over 25M a year earlier, with both DoorDash and Wolt experiencing year-over-year growth in MAUs.

The business anticipates Q1 Marketplace GOV revenues between $15.1 and $15.5 billion, with adjusted EBITDA between $120-$170 million.

For the full year of 2023, the firm forecasts Marketplace GOV revenues between $60 billion and $63 billion, with adjusted EBITDA between $500 million and $800 million.

The firm also revealed that DoorDash's COO and President, Christopher Payne, will depart on March 1, 2023. Since 2018, Prabir Adarkar has worked as the company's CFO. On March 1, 2023, he assumed the roles of COO and President.