DoorDash projects quarterly core profit below estimates on higher costs [Yahoo! Finance Canada]
DoorDash, Inc. (DASH)
Company Research
Source: Yahoo! Finance Canada
(Reuters) - DoorDash projected second-quarter core profit below expectations on Wednesday despite beating first-quarter revenue estimates, indicating that higher costs were offseting some of its gains from rising groceries and food orders. Shares of the company were down 12% in extended trading. The online delivery firm has been forced to increase minimum pay for its delivery workers after New York City and Seattle came up with new regulations. "When I look at the business from Q4 to Q1, costs did go up," said CFO Ravi Inukonda in an interview with Reuters, adding that the company passed on some fees to consumers. ADVERTISEMENT DoorDash expects adjusted earnings before tax, interest, depreciation, and amortization between $325 million and $425 million, the mid-point of which is below an estimate of about $393.8 million, according to LSEG data. The company said the new regulation made its platform "less accessible and less flexible" for the people who used to generate inco
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DASH
Earnings
- 5/1/24 - Beat
DASH
Sec Filings
- 5/13/24 - Form 144
- 5/13/24 - Form 144
- 5/8/24 - Form 4
- DASH's page on the SEC website