Doordash (DASH) Q3 2021 earnings – .

Doordash (DASH) Q3 2021 earnings – .

DoorDash on Tuesday announced the acquisition of Wolt, a food delivery platform that has expanded to grocery and retail, in an all-in-stock transaction valued at $ 8.1 billion. of dollars.
The move is an effort to accelerate the company’s international growth. DoorDash shares jumped more than 11% in after-hours trading after an initial drop.

Wolt has approximately 4,000 employees and operates in 23 countries, the company said in a statement. In January, Wolt said it had passed 10 million users.

Upon closing, Wolt Founder and CEO Miki Kuusi will lead DoorDash International. The agreement is expected to be finalized in the second half of 2022.

The announcement was made as part of DoorDash’s third quarter earnings report.

Here are the key figures:

  • Loss per share: 30 cents vs. 26 cents expected in Refinitiv analyst survey
  • Returned: $ 1.28 billion vs. $ 1.18 billion expected

DoorDash reported a net loss of $ 101 million. That’s more than double its loss of $ 43 million in the same quarter of 2020.

DoorDash has been one of the benefactors of stay-at-home trends as people have relied heavily on food delivery services while taking precautions to minimize the spread of Covid-19.

The company said the number of new consumers acquired in the quarter was down from record highs in 2020. But it remains “well above” levels of 2019 and previous years, he added. . Total orders increased 47% to 347 million.

And consumers spent more on orders in the quarter. The gross value of orders in the market jumped 44% to $ 10.4 billion. DoorDash said it expects a range of $ 10.3 billion to $ 10.7 billion in the fourth quarter.

More than 3 million people provided services, or “dots,” during the quarter to earn more than $ 2.8 billion. The company also reported 500,000 partner merchants, saying it continues to add at a “faster rate than pre-pandemic levels.”

Adjusted EBITDA reached $ 86 million in the quarter, a decrease of 24% from the second quarter. The company anticipates a range of $ 0 million to $ 100 million in the fourth quarter.

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