DoorDash Inc (NYSE:DASH) delivered record third-quarter 2023 revenue that rose 27% year over year to $2.16 billion, while its net loss for the period narrowed to $0.19 per share from $0.77 per share a year earlier.
The analyst consensus forecast was for a $0.40 per share loss on $2.09 billion in revenue.
The company also saw its total orders increase 24% during the period to a record 543 million.
DoorDash shares jumped 8% in Wednesday's after-hours session.
DoorDash’s 3Q financials were the strongest quarterly results since the company went public in 2020, as customers ordered more than they did during the pandemic.
Looking ahead, the company said it expects 4Q adjusted EBITDA of between $320 million and $380 million, exceeding Wall Street expectations of $253.3 million.
"We are on track to generate over $1 billion in adjusted EBITDA and more than 2 billion orders this year," DoorDash chief financial officer Ravi Inukonda told Reuters.
Shares of DoorDash have gained 57% year to date.
Contact Sean at sean@proactiveinvestors.com