DoorDash is in the middle of a massive spending initiative as it builds out a new tech platform following a string of acquisitions.
In this article
DoorDash
reported strong first-quarter results and order growth guidance after the bell on Wednesday as the food delivery giant pours more money into new technology to lure customers.
Shares popped 12% following the report.
Here’s how the company did versus LSEG estimates:
DoorDash reported better-than-expected results and said total orders increased 20%.
The food delivery platform said it expects to spend "several hundred million dollars" on new initiatives and development in 2026.
Investors have raised concerns over the company ambitious investing plans as it ramps up its artificial intelligence and…
Analysts noted improvement in the company's unit economics, especially in new areas like grocery and retail.
Shares of DoorDash could rally 23% from current levels, according to Jefferies.
For the most part, Wall Street analysts have retained their strong conviction on DoorDash following its fourth-quarter earnings…
