DoorDash projects core profit above estimates on steady demand
© Reuters. Doordash logo is seen on a smartphone in front of displayed Japan flag in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration/File Photo) forecast fourth-quarter core profit above estimates after topping quarterly revenue expectations on Wednesday, boosted by an uptick in customer orders for food, convenience items, and groceries.
The company's efforts to invest more in improving its products and services as well as partnerships with brands such as Sephora and ALDI have also helped it grow faster and increase its market share in the United States. The company expects gross order value - the total value of all app orders and subscription fees - to be between $17 billion and $17.4 billion for the fourth quarter, compared with $14.4 billion a year ago.
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