DoorDash’s stock drops despite reporting increase in revenue, orders

United States

DoorDash Inc.’s stock slid about 7% in after-hours trading Thursday after the food-delivery company delivered quarterly results.

DoorDash DASH, +5.22% reported a fiscal fourth-quarter net loss of $ 154 million, or 39 cents a share, compared with a net loss of $ 640 million, or $ 1.65 a share, in the same quarter a year ago.

Revenue jumped 27% to $ 2.3 billion, from $ 1.82 billion in the year-ago quarter.

The company’s gross order value (GOV), or the total dollar value of all orders made on its platform, improved 22% to $ 17.64 billion. DoorDash had guided for $ 17 billion to $ 17.4 billion, and analysts polled by FactSet predicted $ 17.3 billion.

Analysts surveyed by FactSet had, on average, expected a net loss of 13 cents a share on revenue of $ 2.25 billion.

The company offered first-quarter GOV guidance of $ 18.5 billion to $ 18.9 billion, while FactSet analysts are forecasting $ 18.61 billion.

Shares of DoorDash have surged 89% over the past 12 months. The broader S&P 500 index SPX has increased 23%.