DoorDash reported 36% revenue growth to $4.45 billion and 109% free cash flow surge, defying bearish trades linked to Uber.
DoorDash (NASDAQ:DASH) shares rose 2.9% after reporting second-quarter earnings that exceeded expectations. Revenue climbed 36% to $4.45 billion, while free cash flow jumped 109% to $742 million. Market gross order value reached $33 billion, up 36% year-over-year, signaling strong growth momentum.
The results contrasted with weaker performance from peers like Uber, which led some investors to short DoorDash on overlap concerns. However, the company’s 87% surge in operating cash flow to $944 million and 970 million orders underscored its resilience. GAAP net income fell 30% to $200 million, and R&D expenses rose 52% to $535 million, highlighting cost pressures.
Analysts noted potential headwinds from regulatory scrutiny on gig worker wages and inflationary pressures on consumer spending. Despite these risks, DoorDash’s growth trajectory remains robust, defying earlier bearish bets.