DoorDash has reported higher-than-expected revenue in the first quarter, as strong growth in U.S. grocery orders helped make up for slowing restaurant demand. The San Francisco-based delivery company said Wednesday its revenue rose 23% to $2.51 billion in the January-March period. That was higher than Wall Street was expecting.
FILE - The DoorDash app is shown on a smartphone on Feb. 27, 2020, in New York. DoorDash will reports earnings on Wednesday, May 1, 2024 DoorDash reported higher-than-expected revenue in the first quarter, as strong growth in U.S. grocery orders helped make up for slowing restaurant demand.
DoorDash said its total orders climbed 21% to 620 million. That also surpassed expectations; analysts were forecasting 607 million orders. DoorDash said U.S. restaurant order value also grew, but at a slower pace than last year. That reflected results released this week from, which both reported lower store traffic in the most recent quarter as inflation-weary customers in the U.S. and other markets shift from dining out to eating at home.new rules in New York and Seattle
But DoorDash said the new rules had a minimal impact on its business, lowering total orders by less than 1% in the first quarter.
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