DoorDash (DASH) reported a mixed bag of second-quarter results after the market closed on Wednesday. Revenue came in strong, but earnings missed the mark, and the stock is feeling the pressure in after-hours trading.

Let's break down the numbers.

DoorDash Q2 Earnings

The delivery giant posted revenue of $4.45 billion for the quarter, a 36% jump year-over-year. That beat the Street's expectation of $4.34 billion, according to market data.

• Total orders climbed 27% year-over-year to 970 million.
• Marketplace GOV hit $33.1 billion, up 36% from a year ago.
• Adjusted EBITDA came in at $914 million, a 40% increase year-over-year.

But here's the rub: earnings were 46 cents per share, missing the consensus estimate of 49 cents per share.

Despite the earnings miss, DoorDash highlighted robust growth in U.S. grocery and retail categories. The company also noted that paid DashPass customers in the U.S. grew more in the 12 months through Q2 than in the previous 24 months combined, underscoring the program's increasing appeal. DashPass members accounted for roughly 75% of all U.S. grocery and retail orders during the quarter.

What's Next for DoorDash

Looking ahead, DoorDash expects third-quarter Marketplace GOV to land between $33 billion and $34 billion. The company also guided for adjusted EBITDA of $950 million to $1.1 billion in Q3.

However, the company cautioned that Q4 EBITDA is expected to be weaker as a percentage of Marketplace GOV, citing seasonal increases in Dasher costs, higher insurance expenses, and increased investments.

"We have had a strong start to 2026 and will work hard to continue our progress through the second half of the year," the company said.

DoorDash Stock Price Action

In after-hours trading Wednesday, DoorDash shares were up 0.35% to $207.99, within a 52-week range of $143.30 to $285.49.