DoorDash Q1 EPS Beats; GOV Up 37%, Shares Jump 13%
DoorDash reported Q1 EPS of $0.42, beating the $0.37 consensus, but revenue of $4.04 billion fell short of the $4.15 billion estimate. Marketplace Gross Order Value climbed 37% to $31.6 billion and adjusted EBITDA rose 28% to $754 million, sending shares up 13% after hours.
1. Q1 Earnings Beat Estimates
DoorDash reported diluted EPS of $0.42 versus the $0.37 consensus, while revenue reached $4.04 billion compared with the $4.15 billion projection. GAAP net income was $184 million, down 5% year-over-year, and adjusted EBITDA grew 28% to $754 million.
2. Strong Order and GOV Growth
Marketplace Gross Order Value surged 37% year-over-year to $31.6 billion, with total orders up 27% to 933 million driven by record membership signups and new monthly active users. Excluding the Deliveroo acquisition impact, marketplace GOV grew 24%, and U.S. grocery and retail categories attracted the most new consumers in company history.
3. Outlook and Capital Allocation
For Q2, management forecasts GOV between $32.4 billion and $33.4 billion and adjusted EBITDA of $770 million to $870 million. The board maintains a $5.0 billion share repurchase authorization with $4.795 billion remaining and expects the Deliveroo segment to contribute approximately $200 million to adjusted EBITDA this year.