DoorDash projects strong growth as delivery demand holds firm

The company's third-quarter adjusted earnings before interest, taxes, depreciation and amortization are expected to be between $950 million and $1.10 billion, largely above expectations of $979.6 million.

DoorDash said adjusted EBITDA as a percentage of marketplace GOV would decline sequentially in the fourth quarter, broadly in line with trends seen last year, due to seasonally higher Dasher and insurance costs, along with increased investment in technology and autonomous-delivery initiatives.

For the second quarter ended June 30, marketplace GOV rose 36% to $33.08 billion, topping estimates of $32.08 billion. Adjusted EBITDA increased 40% to $914 million, compared with expectations of $841.8 million.

Aug. 5 (Reuters) - DoorDash on Wednesday forecast third-quarter gross order value and core profit above Wall Street estimates after topping results for the prior three months on sustained demand for food, grocery and convenience deliveries.

Consumers prioritizing convenience, including for groceries and everyday essentials, have boosted demand for firms such as DoorDash, which has been diversifying beyond restaurant deliveries.

The company expects third-quarter marketplace gross order value (GOV), the total dollar value of orders placed on its platform, of $33 billion to $34 billion, above analysts' expectations of , according to data compiled by LSEG.