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DoorDash beats revenue estimates on sustained demand for food delivery -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This DoorDash sign was pictured at a New York City eatery in Manhattan on December 9, 2020. REUTERS/Carlo Allegri/File Photo

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(Reuters) – DoorDash Inc announced Wednesday its quarterly revenues. This was higher than analysts expected, because people ordered food from the company even after they used it frequently at the height of the pandemic.

Wall Street analysts claim that consumers have changed their food ordering habits, with service providers like DoorDash and Uber (NYSE:) Eats as well as Grubhub forecasting solid growth over the next several years.

From $970 million in 2009, the largest U.S. food delivery company saw its revenue rise to $1.30 Billion during the fourth quarter ending Dec. 31, from $970 M. According to Refinitiv, IBES, analysts had predicted revenue of $1.28 trillion.

First quarter marketplace gross orders value (the total amount of app orders and subscription fees) is expected to be between $11.4 billion-11.8 billion. The Fourth Quarter Gross Order Value was $11.2 Billion.

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