DoorDash defied an overall slowdown in U.S. restaurant delivery in the third quarter.
FILE - The DoorDash app is shown on a smartphone on Feb. 27, 2020, in New York. DoorDash reports quarterly financial results reports quarterly financial results Thursday, Nov. 3, 2022.
DoorDash anticipates the trajectory to continue the rest of this year. The company said it expects gross order volumes — which were up 30% to $13.5 billion in the third quarter — will hit $13.9 billion to $14.2 billion in the fourth quarter. That would also beat Wall Street’s forecast of $13.7 billion.DoorDash’s revenue rose 33% to $1.7 billion, exceeding analysts’ expectations of $1.68 billion.
Overall U.S. restaurant traffic fell 1% during the July-September period as consumers pinched by inflation elected to cook more meals at home, according to The NPD Group, a market research firm. NPD also found that overall restaurant delivery demand fell 12% from the same period last year as diners tried to cut down on delivery fees.
DoorDash also increased non-restaurant orders in the third quarter with the addition of grocery chains like Giant Eagle and Sprouts and retailers like Dick’s Sporting Goods and Tractor Supply.of the Finnish delivery service Wolt, which was finalized on June 1. Wolt’s gross order volumes jumped 36% in U.S. dollars during the quarter, and it opened access to 22 countries where DoorDash didn’t previously operate, including Germany, Sweden and Israel.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Houston Humane Society partners with DoorDash to deliver pet food straight to your doorstepThe Houston Humane Society is launching a new partnership with DoorDash to help deliver free pet food straight to residents' doorsteps.
Read more »
California city first in US to partner with DoorDash to deliver food to hungry householdsTheir agreement — the first between a city and the company — targets food insecurity and food deserts.
Read more »
Jobs report, Twilio plunge, DoorDash rise and more: Friday's 5 things to knowIt is jobs day where traders will be looking to see if interest rate hikes by the Fed is slowing the pace of hiring.
Read more »
Sprouts partners with DoorDash for grocery delivery - Phoenix Business JournalSprouts will start offering on-demand delivery through DoorDash in Phoenix. Here's the timeline for the rollout.
Read more »
Former DoorDash driver, cemetery worker becomes the Lakers' unlikely heroIt's been quite a journey for Matt Ryan.
Read more »