By DEE-ANN DURBIN, AP Business Writer
DoorDash on Wednesday posted better-than-expected sales for its fourth quarter thanks to its growing active-user base and an expansion of its delivery options.
The San Francisco-based delivery company said its revenue grew 34% to $1.3 billion in the October-December period. That topped Wall Street’s forecast of $1.28 billion, according to analysts polled by FactSet.
DoorDash said its DashPass members __ who pay a monthly fee for unlimited free deliveries __ grew to 10 million during the quarter, up from 9 million at the end of the third quarter. Those customers ordered more frequently from new, non-restaurant partners like Ulta Beauty, DoorDash said.
It said its total orders grew 35% to 369 million, also ahead of analysts’ expectations.
The company narrowed its loss to $155 million for the quarter, from $312 million in the same period a year ago. The latest quarter’s loss, of 45 cents per share, was higher than the 23-cent loss Wall Street had forecast.
DoorDash’s shares jumped 22% in after-market trading Wednesday.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.