DoorDash Q3 revenue tops estimates on order growth; to acquire Instacart
Overview
US food delivery platform's Q3 revenue rose 34% yr/yr, beating analyst expectations
Q3 net income jumped 91% yr/yr, beating analyst expectations
Company to acquire Instacart for $17 bln in cash and stock deal
Outlook
DoorDash expects Q4 2026 Marketplace GOV of $35.4 bln to $36.4 bln
Company forecasts Q4 2026 adjusted EBITDA between $900 mln and $1.1 bln
Outlook assumes stable consumer demand and foreign currency rates
Result Drivers
ORDER GROWTH - Co said Q3 order growth was driven by increased number of consumers and the acquisition of Deliveroo
HIGHER AVERAGE ORDER VALUE - Co said Q3 Marketplace GOV growth was driven by more orders and higher average order value
MEMBERSHIP PROGRAMS - Co said growth in DashPass paid memberships helped reduce transaction fees and supported order growth
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $4.62 bln | $4.56 bln (38 Analysts) |
Q3 EPS | $1.06 | ||
Q3 Net Income | Beat | $466 mln | $388.83 mln (29 Analysts) |
Q3 Adjusted EBITDA | Beat | $1.06 bln | $1.02 bln (37 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 37 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Doordash, Inc. is $260.00, about 53.4% above its October 28 closing price of $169.49
The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 52 three months ago
Reuters Recommended Reads
Oct 29 - DoorDash strikes $17 billion deal for US rival Instacart in bets on grocery delivery
Oct 28 - Delivery Hero lifts annual guidance again as quick commerce drives growth
Oct 28 - Germany's Delivery Hero Q3 revenue rises 22%, lifts FY outlook
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)