Closing Bell

DoorDash Jumps on Earnings Beat

Welcome back to closing bell and cheddar news. Everyone. We do have an earnings alert this time from doordash that stopped popping in the after hours. So the losses that we saw the underperformance in today's regular session, not pretending what we're getting after the market closes the stock rising 8% on the results that you see on your screen. Yes, earnings did miss by quite a bit. We'll talk more about that in a moment. The company reporting the loss of a dollar and 65 cents a share. The street had expected just a loss of 68 cents yet the stock rising. So again, more details to come revenue edging past expectations at 1.8 billion, The company providing, providing some rosy current quarter guidance and of course that guidance for the current period allowing the stock to rise in the after hours are still up about 8%. The company also saying that it ended last year with a record 32 million monthly users and that its subscription service dash pass that allows you to skip or at least reduce some of those very expensive Delivery fees, service fees I think is what they call it now, is more than 15 million members. So about half of the users are actually members of dash past, meaning that they probably come back more often 15 million members actually up from 10 million a year ago. So that is 50% growth. Some very strong growth in fact for dash pass. So here's why the company, I really missed the mark on earnings yet the stock is higher. The company is saying that impairment charges related to its acquisition of a europe based delivery company called WALT Factored in, As well as stock-based compensation related to some layoffs that the company announced in November. So basically restructuring cost caused the company to underperform. But restructuring over time, the expectation is that it sets the company the bottom line up for success going forward. So again, with the Rosy Outlook and the pretty decent growth, obviously in terms of active members on the food delivery platform, sending the stock up 8% in the after hours.