DoorDash stock is going through the roof after the company posted better than expected Q4 earnings, reports Bloomberg. DoorDash was a pandemic darling, with millions of people turning to the food delivery service in order to keep safe from dining out. But recently, other pandemic darlings, like Peloton, have seen their fortunes retreat as people become more comfortable going back out into the real world.
This doesn’t seem to be a problem for DoorDash, however. For Q4 2021, the company posted numbers that made investors very happy, including:
- A 35% increase in year-over-year orders for the period, up to 369 million
- A 36% increase in the value of orders to $11.2 billion
- A 34% increase in quarterly revenue to $1.3 billion.
As a result, DoorDash stock (DASH) popped as much as 39% after the bell when earnings were announced. Pre-market today, the stock has kept more than half of those gains; it’s currently up 25% before the bell at the time of this writing, with its stock price sitting around $119. However, that’s a far cry from its mid-November high of almost $245 per share. What investors will want to know next is whether DoorDash can repeat its stellar Q4 next quarter.
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