DoorDash pops 14% on strong earnings, upbeat order guidance

Avishek Das | Lightrocket | DoorDash reported mixed first-quarter results after the bell on Wednesday as it pours more money into new technology and features. Shares popped 14% following the report. Here's how the company did versus LSEG estimates: Earnings per share: 42 cents vs. 36 cents expected Revenue : $4.04 billion vs. $4.14 billion expected Revenue rose 33% from $3.03 billion a year ago, while total orders jumped 27% to $933 million, but came up short of the $954 million estimate from analysts. Net income during the period declined to $184 million, or 42 cents per share, from $193 million, or 44 cents per share, last year. The food delivery giant is spending big on new features and services as it builds out a single-platform tech stack that integrates its recent global acquisitions. It's also shelling out billions to expand its global footprint, enhance artificial intelligence capabilities, and maintain a competitive edge against rivals such as Uber Eats. "We expect these efforts will allow us to invest more efficiently, operate more effectively, and drive higher levels of growth in the communities we serve," DoorDash said in a press release on Wednesday. DoorDash's recent big-ticket purchases include restaurant reservation platform SevenRooms and British delivery company Deliveroo . Last year, DoorDash also launched an autonomous robot as it scales delivery optionality. …