DoorDash Inc. soared as much as 39% in extended trading after the company reported a record number of people ordered from the food-delivery app in the fourth quarter, showing that pandemic eating habits are sticking despite COVID-19’s fading threat.
Customers placed 369 million orders in the period, representing a 35% increase from a year earlier. People were also ordering more often and the value of those orders increased 36% to $11.2 billion. Wall Street expected $10.6 billion.
"There was a lot of skepticism about whether people were going to keep using this product with reopenings and we’re exiting the year with a record number of users,” chief financial officer Prabir Adarkar said in an interview. "The benefit of convenience is enduring.”