DoorDash's Monster Quarter: Revenue Nearly Triples
DoorDash (NYSE: DASH) reported blowout first-quarter earnings last Thursday, and shares of the delivery platform are up nearly 16% since then. The company pointed to consumers who were flush with cash after stimulus checks hit their bank accounts as a reason for the strong performance.
Investors were impressed by robust ordering activity on the platform even though states are easing restrictions at restaurants. Expectations were that as restaurants began welcoming people inside for dining, it would reduce the growth at DoorDash.
That was far from what happened, as DoorDash's revenue nearly tripled to $1.1 billion for the first quarter compared to $362 million a year prior. The results were better than the $993 million in revenue that analysts on Wall Street were expecting.
Source Fool.com
