DoorDash Q2 Profit Falls

(RTTNews) - DoorDash Inc. (DASH) on Wednesday reported a decline in second-quarter profit despite strong revenue growth, as higher operating expenses offset gains from increased order volumes.

Net income fell 30% to $200 million, or $0.46 per share, from $285 million, or $0.65 per share, a year earlier.

Revenue increased 36% to $4.45 billion from $3.28 billion last year, driven by growth in Marketplace Gross Order Value (GOV), which rose 36% to $33.08 billion. Total orders climbed 27% to 970 million.

For the third quarter, DoorDash expects Marketplace GOV to range between $33.0 billion and $34.0 billion, with Adjusted EBITDA of $950 million to $1.10 billion.