DoorDash Stock News

DoorDash shares are sinking Tuesday after the food-delivery company posted first-quarter revenue that undershot analysts' forecasts.

Shares of DoorDash Inc (NYSE:DASH) fell about 8% on Tuesday morning in New York after the food delivery company posted a quarterly profit that missed some investors' expectations on margins. The company reported first-quarter adjusted EBITDA of $590 million, up from $371 million a year earlier but below some buyside hopes, despite surpassing analyst consensus estimates.

Here's our initial take on DoorDash's (DASH -7.63%) financial report.

Deliveroo investor Amazon.com has yet to say whether it will vote for DoorDash's takeover bid for the U.K. food-delivery service company.

DoorDash Inc (NYSE:DASH) had a £2.9 billion ($3.9 billion) offer for Deliveroo PLC (LSE:ROO) accepted but the San Francisco group's announcement had a telling omission, analysts said. An indicative offer of 180p per share, which was announced a week last Friday, was firmed up as a formal offer and the board has accepted on the same terms, the New York-listed company said on Tuesday.

DoorDash swung to a first-quarter profit as demand continued to grow for online restaurant and grocery-store orders, and the company also struck a $1.2 billion deal for a maker of reservation software.

Doordash announces $1.2 billion SevenRooms deal, misses revenue expectations

SAN FRANCISCO--(BUSINESS WIRE)--DoorDash (NASDAQ: DASH), a leading global platform for local commerce, today announced it has reached an agreement to acquire SevenRooms, a New York City-based software company and a global leader in hospitality technology. The move marks a significant expansion of DoorDash's Commerce Platform capabilities, equipping merchants globally with new tools to grow in-s...