DoorDash Inc (NYSE:DASH) shares added more than 5% afterhours as the food delivery platform’s earnings outpaced expectations.
Revenue for the quarter was up 25% year-over-year at $3.3 billion, ahead of Wall Street estimates of $3.15 billion.
Adjusted EBITDA surged 52% from the year-ago period to $655 million.
Earnings on a per share basis were $0.65, a significant improvement from a loss per share in the year-ago quarter and beating estimates of $0.43.
Total orders were up 20% year-over-year to 761 million. Marketplace Gross Order Value of $24.2 billion, up 23% year-over-year, beat estimates of $23.5 billion.
DoorDash highlighted that during Q2, it set new quarterly records for total orders, Marketplace Gross Order Value, and revenue. It also surpassed 10 billion lifetime orders globally.
“We are proud of how far we have come and the work that has gone into building a platform that now serves hundreds of thousands of merchants, tens of millions of consumers, and millions of Dashers across over 30 countries every month,” the company said in a statement.
“Our progress reflects our team’s innovation, operational excellence, and hard work, and we intend to continue investing to expand the scale, scope, and capabilities of our business going forward.”
Shares of DoorDash added 5.1% at $271 shortly after the release of its earnings report.