On-demand food delivery service DoorDash (NYSE:DASH) will be reporting earnings today morning. Here’s what you need to know.
DoorDash beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $2.87 billion, up 24.8% year on year. It was a mixed quarter for the company, with strong growth in its requests but EBITDA guidance for next quarter slightly missing analysts’ expectations. It reported 685 million service requests, up 19.3% year on year.
Is DoorDash a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting DoorDash’s revenue to grow 23.2% year on year to $3.10 billion, in line with the 23.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.98 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. DoorDash has missed Wall Street’s revenue estimates twice over the last two years.
Looking at DoorDash’s peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Upwork posted flat year-on-year revenue, beating analysts’ expectations by 2.2%, and EverQuote reported revenues up 83%, topping estimates by 5.2%.
Read our full analysis of Upwork’s results here and EverQuote’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 18% on average over the last month. DoorDash is up 23% during the same time and is heading into earnings with an average analyst price target of $218.84 (compared to the current share price of $204.50).
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