(Boursier.com) — DoorDash , the American meal delivery group, largely exceeded revenue expectations for the quarter ended and raised its forecasts in the process, despite the expected more difficult spending environment. Revenue rose 30% in the second quarter to $1.6 billion, the San Francisco group said. The consensus was $1.52 billion. Customers placed 426 million orders in the three months to June 30, up 23% from a year earlier. The value of those orders rose 25% to $13.1 billion, beating Wall Street expectations ($12.7 billion). The results are the first to incorporate financial data from Helsinki-based Wolt since it was acquired by DoorDash in November. The positive results eased fears that rising inflation would discourage consumers from discretionary services like food delivery. However, the road to profitability remains long. DoorDash posted a net loss of $263 million, or 72 cents per share, in the quarter, more than double its loss from a year ago.
The company forecasts gross order value of $13 billion to $13.5 billion for the current quarter and adjusted earnings before interest, taxes, depreciation and amortization of $25 million to $75 million. DoorDash also forecasts a full-year Adjusted Ebitda of $200 million to $500 million.
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