DOORDASH ORDERS SURGE 24% IN THE THIRD QUARTER, HELPING TO NARROW THE DELIVERY APP'S LOSSES

DoorDash powered past sales and earnings expectations in the third quarter, saying a growing mix of stores and faster service is drawing customers in the U.S. and abroad.

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The San Francisco delivery company said this week its total orders grew 24% to 543 million in the July-September period compared to the same period a year earlier. That was well above the 521 million orders Wall Street had forecast, according to analysts polled by FactSet.

DoorDash said revenue jumped 27% to $2.16 billion, also ahead of the $2.09 billion analysts were expecting.

DoorDash shares jumped more than 7.5% in after-hours trading.

The company said its monthly active users — or customers who placed at least one order in the past month – increased at double-digit percentage rates in September, with strong demand from both the U.S. and international markets. Growth in order frequency also accelerated from the second quarter, the company said.