Why DoorDash Stock Jumped 20.8% Today

Shares of food delivery stock DoorDash (NYSE: DASH) jumped as much as 20.8% in trading on Wednesday after the company reported earnings and a big acquisition. Shares are still up 10.9% at 3:30 p.m. EST. 

Third-quarter 2021 revenue jumped 45% versus a year ago to $1.3 billion as total orders grew 47% to 347 million. Gross profit jumped 42% to $665 million and the company reported a net loss according to generally accepted accounting principles (GAAP) of $101 million, or $0.30 per share. Analysts were expecting revenue of $1.18 billion and a loss of $0.26 per share, so investors are clearly cheering the higher than expected revenue.

Image source: Getty Images.

Continue reading

Source Fool.com