DoorDash (DASH) stock jumped around 11% in premarket trading Thursday, reaching $184.50, after the company posted a Q1 earnings beat despite missing on revenue.
The company earned $0.42 per share, topping the $0.36 analyst estimate. Revenue came in at $4.04 billion, short of the $4.15 billion Wall Street had expected.
Gross order value — the total value of all orders placed on the platform — came in at $31.6 billion, just above the $31.5 billion consensus and within the company’s own guidance range.
$DASH Q1’26 EARNINGS HIGHLIGHTS
Revenue: $4.04B (Est. $4.15B)
; +33% YoY
Q2 Guide:
— Wall St Engine (@wallstengine) May 6, 2026
Average order value also rose, climbing from $31.52 in Q1 2025 to $33.87 this quarter. That’s a quiet but steady improvement in how much customers are spending per order.
DoorDash credited “continued product improvements and healthy consumer demand trends” for the results, even as consumers continue to navigate a higher cost environment.
For Q2, the company guided GOV of $32.4 billion to $33.4 billion, which brackets the analyst consensus of $32.75 billion.
Adjusted EBITDA guidance of $770 million to $870 million came in just shy of the $828 million analyst midpoint estimate — not a blowout, but close enough.
Citi analysts noted that investors were particularly focused on the GOV guidance, especially given DoorDash’s ongoing $50 million per quarter program to reimburse drivers for higher fuel costs.
Goldman Sachs analyst Eric Sheridan pointed to growing adoption of the DashPass membership program as another bright spot, driven by better sign-up rates and lower churn.
On the earnings call, CEO Tony Xu said nearly two-thirds of DoorDash’s code is now written by AI — a detail that drew attention even in a results-heavy call.
Xu said the company is using AI-driven productivity gains as it works to migrate acquired brands Wolt and Deliveroo onto a new unified tech platform.
“We’re seeing productivity gains, we’re trying to figure out how do productivity gains now translate to what team setups should look like,” Xu said.
He also noted DoorDash is pulling logistics solutions from European non-gridded cities and combining them with U.S. retail catalog expertise.
The stock came into Thursday down 26% for the year, making the premarket pop a meaningful but partial recovery.
DoorDash’s Q1 GOV of $31.6 billion came in within its own previously guided range of $31.4 billion to $32.4 billion.
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