Dordash beat the forecast on the top line – the loss on the bottom line deepened

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Doordash delivery company


DOORDASH INC
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which acquired Volt, which is active in Israel, reported its results for the third quarter of 2022 – in which the company beat analysts’ expectations in the top line and missed the analysts’ forecast in the bottom line.

The company’s revenues in the third quarter amounted to 1.7 billion dollars, this compared to analysts’ expectations for revenues in the amount of 1.63 billion dollars, in the corresponding quarter last year the company recorded revenues of 1.28 billion dollars, this is the fourth time in a row that the company has beaten the analysts’ forecasts in the top line.

In the bottom line, the company recorded a loss of $0.77 per share, higher than the analysts’ expectations, who estimated that the company would lose $0.6 per share in the third quarter. In the third quarter of last year, the company recorded a loss of $0.3 per share, this is the fourth time in a row that the company has missed the analysts’ forecast in the line of profit per share.

The analyst consensus estimates that in the coming quarter the company will post a loss of $0.54 per share on revenues of $1.66 billion, for the entire year 2022 the analysts estimate that the company will post a loss of $2.36 per share on revenues of $6.36 billion.

The Dordash company has positioned itself as the leading company in the United States in the field of food deliveries, one of the habits that existed even before the corona virus but gained significant momentum due to the epidemic is the field of shopping through delivery in general and the field of food deliveries in particular, and Dordash entered exactly this vacuum at the right time.

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Doordash trades according to a market value of 19.5 billion dollars, the company’s stock has fallen by about 65% since the beginning of the year.

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