DoorDash (NASDAQ: DASH) shares jumped 11% in pre-market trading on Thursday after the company reported first-quarter earnings that exceeded analyst expectations and provided an optimistic forecast for gross order value (GOV). The delivery platform posted adjusted earnings of $0.42 per share, topping the consensus estimate of $0.36, while revenue of $4.04 billion slightly missed the $4.14 billion forecast.
Key highlights from the report included GOV of $31.6 billion, just above the $31.5 billion estimate, and an increase in average order value to $33.87 from $31.52 a year earlier. Total orders surged 27% year-over-year to 933 million. For the second quarter, DoorDash guided GOV between $32.4 billion and $33.4 billion, aligning with or slightly above Wall Street projections, while adjusted EBITDA guidance of $770–$870 million roughly matched expectations.
CEO Tony Xu revealed that nearly two-thirds of the company’s code is now written by AI, boosting productivity as DoorDash integrates acquired brands Wolt and Deliveroo onto a unified platform. Analysts from Citi and Goldman Sachs pointed to the resilient GOV outlook and growing DashPass membership as positive signals, despite ongoing cost pressures from a $50 million-per-quarter driver fuel reimbursement program linked to rising energy prices.
Consumer demand for convenience — especially in grocery and retail delivery — continues to underpin performance, even as macroeconomic headwinds persist. The pre-market rally partially recovered year-to-date losses, with DASH having been down 26% prior to the results.
