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DoorDash Inc (NYSE:DASH) shares surged more than 9% after-hours following the company’s reported Q4 results, with revenue of $1.82 billion (up 40% year-over-year) coming in better than the consensus estimate of $1.77B, as consumer demand remains strong.
Q4 EPS was ($1.65), compared to the consensus estimate of ($0.67). Total orders grew 27% year-over-year to 467 million, driven by growth in consumers and consumer engagement at DoorDash as well as its acquisition of Wolt. Q4 Marketplace GOV grew 29% year-over-year to $14.4B.
Monthly Active Users (MAUs) in December increased to over 32M from over 25M a year ago, with year-over-year growth in both DoorDash and Wolt MAUs.
The company expects Q1 Marketplace GOV to be in a range of $15.1-$15.5B, with adjusted EBITDA expected to be $120-$170M.
For the full 2023-year, the company anticipates Marketplace GOV to be in a range of $60.0-$63.0B, with adjusted EBITDA expected to be $500-$800M.
The company also announced that Christopher Payne plans to resign as COO and President of DoorDash, effective March 1, 2023. Prabir Adarkar, who has served as the company’s CFO since 2018, has been appointed COO and President, effective March 1, 2023.
