DoorDash defies U.S. delivery slowdown with strong Q3

By DEE-ANN DURBIN
AP Business Writer

DoorDash defied an overall slowdown in U.S. restaurant delivery in the third quarter. The San Francisco delivery company said its orders jumped 27% in the July-September period as it expanded overseas and added new retailers like Dick’s Sporting Goods. DoorDash’s revenue rose 33% to $1.7 billion in the third quarter, exceeding Wall Street’s expectations. It expects gross order volumes to hit $13.9 billion to $14.2 billion in the fourth quarter, also higher than forecast. But DoorDash’s third-quarter loss of 77 cents per share was also higher than expected. DoorDash said its costs rose as it absorbed employees from Wolt, the Finnish delivery service it acquired in June.