DoorDash booked a record number of orders in the second quarter even as its revenue growth slowed from pandemic-induced highs.
The San Francisco-based delivery company said its total orders rose 69% to 345 million in the April-June period from the same span in 2020. Much of the growth came from new partnerships with convenience stores like 7-Eleven and groceries like Albertsons, the company said.
Its revenue was up 83% to $1.24 billion, surpassing Wall Streets expectations. Analysts polled by FactSet had forecast revenue of $1.1 billion for the quarter.
But the growth was lower than the double- and even triple-digit percentage revenue gains DoorDash saw over the prior four quarters as the pandemic juiced demand for delivery.
DoorDash reported a net loss of $102 million for the quarter as it continued to invest heavily to grow in new markets like Japan. The loss, amounting to 30 cents per share, was far wider than Wall Streets expectation of a 6 cent per share loss.
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