The Clap
DoorDash (NYSE: DASH) saw its shares surge by 14% in extended trading following better-than-expected revenues.
The Deets
The company reported a loss per share of 77 cents against an expected 60 cents, but beat revenue expectations of $1.63 billion, recording $1.7 billion during Q3 2022.
The company’s total orders rose by 27% YoY in 2022, putting aside concerns about a slowdown in food deliveries.
So WhatInflation has had a significant impact on consumer spending, with consumers shifting to more affordable products and steering away from expensive, consumer-discretionary products.
However, DoorDash’s increase in orders during the quarter signals a robust demand for food deliveries, growing investors’ faith in the company.
