DoorDash Shells Out Billions On Acquisitions To Fuel Expansion After Record Orders, Profit

DoorDashDASH

has burned billions on the path to make food delivery as profitable as it is easy to order. It’s finally paying off. In its latest quarterly report, the delivery app reported an 18% rise in order value, which hit a record $732M. From that, the company reaped the benefits, with a record profit and fast-growing revenue.

• Revenue rose 21% to $3B, a tad lower than the $3.1B analysts polled by FactSet were expecting — the miss weighed onDASH
  shares, which fell 8% to $190.
• The firm’s $193M profit ($0.44/sh) was a significant improvement from its $23M loss ($0.06/sh) during the same period last year.

CanDASH

deliver? Today’s results mark DoorDash’s third consecutive profit, building on a strong foundation from its Q4 results in early February. Still, the brand isn’t resting on its laurels. With food and grocery delivery fundamentals improving, it’s looking to accelerate its international expansion through a $3.6B acquisition of Deliveroo. And in addition, the firm announced Tuesday that it would spend $1.2B to acquire restaurant and hotel booking platform SevenRooms — adding new layers to its growth strategy.