After A Revenue Beat, DoorDash's Stock Soared

There was a big jump in the price of DoorDash shares by as much as 6% in extended trading on Thursday after the food delivery service reported better-than-expected sales for the fourth quarter as well as upbeat guidance for the current quarter.

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Here’s how the company did:

• Analysts were expecting 68 cents per share, but the company lost $1.65 per share, according to Refinitiv
• According to Refinitiv, revenue came in at $1.82 billion versus the $1.77 billion expected by analysts

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Shares of the company will also be repurchased for a maximum of $750 million, the company said.

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Among the reasons for DoorDash's larger-than-expected loss for the fourth quarter were charges related to the acquisition of Finnish food delivery company Wolt, and stock-based compensation expenses related to 1,250 layoffs last November.

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According to StreetAccount, DoorDash delivered 467 million orders in the fourth quarter, a 27% increase over Wall Street's expectation of 458 million.

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The company said it expects the marketplace gross order volume for the current quarter to range from $15.1 billion to $15.5 billion. There was a consensus among the StreetAccount analysts that the marketplace gross order volume would be $15 billion in the coming year.

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DoorDash announced in its quarterly earnings report that president and COO Christopher Payne will retire. Prabir Adarkar, DoorDash's CFO, will succeed Payne as COO on March 1. DoorDash's vice president of finance and strategy, Ravi Inukonda, will become a chief financial officer.