DoorDash revenue beats as food delivery demand booms

A delivery person for Doordash rides his bike in the rain during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., November 13, 2020. REUTERS/Carlo Allegri

Aug 12 (Reuters) – DoorDash Inc (DASH.N) beat quarterly revenue estimates on Thursday, as the pandemic-era surge in food delivery stayed strong even after easing curbs and growing vaccination rates encouraged people to dine out more.

Companies like DoorDash and its UK peer Deliveroo Plc (ROO.L) are benefiting from consumers getting used to food being delivered at their doorstep.

The company said revenue rose 83% to $1.24 billion for the second quarter, beating analysts’ estimates of $1.08 billion, according to IBES data from Refinitiv.

It reported a net loss of $102 million, compared with a profit of $23 million a year earlier. On a per share basis, it lost 30 cents. Analysts were expecting a loss of 20 cents per share.

Reporting by Mehr Bedi and Praveen Paramasivam in Bengaluru; Editing by Devika Syamnath

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