DoorDash's second quarter revenue of $4.5B beat estimates, driven by a 36% surge in Marketplace GOV.

DoorDash reported second quarter revenue of $4.5 billion, a 36% year-over-year increase that significantly beat analyst expectations. The company reported a diluted EPS of $0.46, missing estimates. Growth was driven by strong performance across key metrics, with Marketplace Gross Order Value (GOV) and Total Orders both showing substantial year-over-year gains.

Key Highlights

• Marketplace Gross Order Value (GOV) increased 36% year-over-year to $33.1 billion, well ahead of the $22.4 billion consensus estimate.
• Total Orders grew 27% year-over-year to 970 million.
• Adjusted EBITDA rose 40% year-over-year to $914 million, with the Adjusted EBITDA margin as a percentage of Marketplace GOV expanding to 2.8% from 2.7% a year ago.
• The company guided to third quarter Marketplace GOV in a range of $33.0 billion to $34.0 billion.