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The company’s shares rose 23.3% to $116.99 in after-market trading.
Wall Street analysts have said food ordering habits have likely changed permanently, with delivery services providers including DoorDash, Uber (NYSE:UBER) Eats and Grubhub tipped to show solid growth for several years.
DoorDash has also doubled down on non-restaurant offerings, including grocery, pet food and alcohol to attract more users. It has tied up with a number of retailers, including Ulta Beauty (NASDAQ:ULTA), Bed Bath & Beyond (NASDAQ:BBBY) and PetSmart.
The biggest U.S. food delivery firm’s revenue rose to $1.30 billion in the fourth quarter ended Dec. 31 from $970 million a year earlier. Analysts had expected revenue of $1.28 billion, according to Refinitiv IBES.
“Higher-than-expected consumer retention and new consumer growth drove the outperformance … DashPass members have higher retention and order frequency than non-members,” DoorDash said.
The company expects first-quarter marketplace gross order value, the total value of all app orders and subscription fees, between $11.4 billion and $11.8 billion. Fourth-quarter gross order value was $11.2 billion.
The company also forecast adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in a range of break-even to $500 million for fiscal 2022. It reported adjusted EBITDA of $47 million for the fourth quarter.
