Doordash, Inc. ( (DASH) ) has realeased its Q3 earnings. Here is a breakdown of the information Doordash, Inc. presented to its investors.
DoorDash, Inc., a leading player in the on-demand food delivery industry, continues to innovate by enhancing local economies through its comprehensive platforms that facilitate connections between consumers, local merchants, and couriers.
In its third-quarter 2024 earnings report, DoorDash announced achieving positive GAAP net income for the first time as a public company, while also reporting significant growth across key financial metrics such as total orders, marketplace gross order value (GOV), and revenue.
The quarter saw an 18% year-over-year increase in total orders to 643 million, with marketplace GOV rising 19% to $20.0 billion. Revenue surged by 25% to $2.7 billion, driven by higher consumer engagement and increased marketplace GOV. Notably, GAAP net income reached $162 million, a stark improvement from a $73 million loss in the same period a year ago. Additionally, adjusted EBITDA rose 55% to $533 million, underscoring operational efficiency and strategic growth in non-restaurant categories and new international markets.
DoorDash remains focused on expanding its service capabilities and geographic reach, with an eye on long-term growth and value creation for consumers and local merchants. The company’s management expects to continue investing in operational improvements and international expansion, signaling optimism for sustained growth in the upcoming quarters.
