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Investing.com -- Shares in DoorDash jumped by more than 8% in premarket U.S. trading on Thursday after the company posted better-than-expected second-quarter earnings and revenue, as demand for food and grocery delivery held steady despite broader consumer spending pressures
DoorDash reported second-quarter income of $0.65 per share, topping analysts’ estimate of $0.43. Revenue rose to $3.3 billion, exceeding forecasts of $3.16 billion.
The group’s push to roll out more promotions and deals helped to lift demand, particularly among price-conscious customers in the U.S. and elsewhere. DoorDash has also moved to expand its online delivery options to include items like electronics, beauty products and alcohol, enhancing the appeal of its platform against restaurants as tariff-driven economic uncertainty persuades many consumers to rein in splurging on dining out.
"Outperformance was driven by an acceleration in order volume, as continued membership adoption and new verticals help to increase order frequency. New verticals continue to expand, as both order frequency and unit economics for new verticals continue to improve," analysts at BMO Capital Markets said in a note.
For the third quarter, DoorDash (NASDAQ:DASH) expects gross order value between $24.2 billion and $24.7 billion, ahead of several consensus estimates.
Adjusted EBITDA -- earnings before interest, taxes, depreciation and amortization -- for the current quarter was forecast to be in the range of $680 million to $780 million. Wall Street projections had seen the figure at $637 million, according to analysts at Stifel.
(Pratyush Thakur contributed reporting.)