DoorDash Reports Q1 Earnings Beat, Revenue Misses Estimates Amid Major Acquisitions

DoorDash reported strong first-quarter growth with total orders rising 18% to a record 732 million and revenue increasing 21% to $3.03 billion, though revenue fell just short of Wall Street expectations. The company's adjusted earnings per share of $0.44 surpassed analyst forecasts, and it achieved a quarterly record net income of $193 million. DoorDash announced two major acquisitions: hospitality software firm SevenRooms for $1.2 billion to expand its merchant services, and U.K.-based Deliveroo for $3.85 billion to boost its European presence. These deals, among the largest since DoorDash acquired Wolt in 2022, are expected to broaden DoorDash's international footprint to 40 countries and enhance its platform's capabilities. Both acquisitions are subject to regulatory approval and are expected to close later this year or next. Despite the positive operational results, DoorDash shares dipped in response to the revenue miss and lower-than-expected EBITDA guidance for the next quarter.