DOORDASH HITS RECORD FOR ORDERS, REVENUE IN SECOND QUARTER

DoorDash set records for total orders and revenue in the second quarter as its grocery and convenience deliveries accelerated and it improved driver efficiency.

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The San Francisco-based delivery company said this week that its total orders rose 25% to 532 million for the April-June period. That was ahead of Wall Street’s forecast of 521 million, according to analysts polled by FactSet.

Revenue rose 33% to $2.1 billion, which was in line with analysts’ forecasts.

DoorDash raised its full-year forecast Wednesday. The company said it now expects gross order values between $64.2 billion and $65.2 billion for the year, up from the $63 billion to $64.5 billion previously forecast. DoorDash expects adjusted pretax earnings between $750 million and $1.05 billion, up from a range of $600 million to $900 million.

DoorDash’s shares rose 5% in after-hours trading.