Summary by Moomoo AI
DoorDash reported strong financial results for Q2 2024, with revenue growing 23% year-over-year to $2.63 billion and Marketplace GOV increasing 20% to $19.71 billion. The company's Adjusted EBITDA rose 54% to $430 million, representing 2.2% of Marketplace GOV. Total Orders grew 19% to 635 million, driven by increased consumer engagement and merchant expansion.The company continued to demonstrate operational improvements, with Contribution Profit increasing to $825 million from $620 million in Q2 2023. Net loss narrowed to $158 million from $172 million in the prior year period. DoorDash maintained strong liquidity with $5.5 billion in cash, cash equivalents, and marketable securities as of June 30, 2024.Looking ahead, DoorDash announced a $1.1 billion share repurchase program in February 2024, reflecting confidence in its business model. The company remains focused on expanding its platform offerings, enhancing merchant services, and improving operational efficiency while investing in international growth through its Wolt subsidiary.
