DoorDash Q1 revenue beats estimates

Yahoo Finance's Jared Blikre joined Yahoo Finance Live to break down DoorDash's latest earnings report.

Video transcript

SEANA SMITH: We need to get to an earnings report. DoorDash is out with its results. The shares up just over 7% after hours. Jared Blikre has that for us. Jared.

JARED BLIKRE: That's right, beats all around here. And the stock's up 9%. And let's dig into the numbers. First quarter results, it came in at revenue with $1.08 billion, topping estimates of $995.7 million. And that's up quite a bit from the $362 million they posted a year ago. Loss per share on a GAAP basis coming in at $0.34, but on an adjusted basis-- we do have adjusted EBITDA basis, anyway-- we have a profit of $43 million versus an estimate of $34.5 million. Key metric of orders, $329 million, versus estimates for lower of $303.8 million. And then here is the real key metric. Marketplace gross order value, $9.91 billion. Estimates were for lower by about a billion, at $8.96 billion.

Then, finally, contribution profit of $209 million versus estimates of $197.8 million. But it's that second quarter forecast that's probably giving shareholders a little bit of energy right now. They see themselves on an adjusted EBITDA basis of 0 to $100 million for the second quarter. And for the full year they expect to be 0 to $300 million. So the bottom line is expecting to be profitable on an adjusted EBITDA basis. Also, they're seeing the full year marketplace gross order value at $35 billion, $35 to $38 billion, so a bump up from that number. Again, that stock up about 9% in afterhours trading.