DoorDash, Inc. (DASH) shares tumbled in Wednesday's after-hours session following a fourth-quarter earnings report that disappointed on both earnings and revenue. Sometimes growing fast isn't quite enough when Wall Street expects you to grow even faster.
The Numbers: DoorDash posted earnings of 48 cents per share, missing analyst estimates of 60 cents. Revenue came in at $3.96 billion, just shy of the $3.99 billion consensus but still up significantly from $2.87 billion in the same quarter last year.
The underlying business metrics actually looked pretty solid. Total orders jumped 32% year-over-year to 903 million, while marketplace gross order value (GOV) climbed 39% to $29.7 billion. Revenue increased 38% to $4 billion, and adjusted EBITDA rose 38% to $780 million.
