DoorDash Shares Surge 15% After First-Quarter Revenue Jumps 33%

DoorDash shares surged more than 15% after the company reported first-quarter results that showed 33% revenue growth even as it continues a multibillion-dollar spending push on technology and new markets. The food delivery platform topped Wall Street expectations on earnings per share but missed on revenue, according to data from LSEG.

Revenue reached $4.04 billion in the quarter ended March 31, 2026, compared with $3.03 billion a year earlier. Total orders climbed 27% to 933 million. For the current quarter, the company forecast marketplace gross order value between $32.4 billion and $33.4 billion, above the $32.43 billion consensus estimate from analysts.

DoorDash also projected adjusted EBITDA of $770 million to $870 million. The company is in the middle of a major technology overhaul that integrates recent acquisitions into a single platform. It spent billions last year on deals including the restaurant reservation service SevenRooms and the British delivery company Deliveroo.

DoorDash also launched an autonomous delivery robot as part of efforts to broaden its services.

DoorDash said it expects the technology investments will let it operate more efficiently and support higher growth. The company has completed the design phase of its platform redesign and is beginning to see early improvements in speed and quality across its brands.

Investors had previously raised concerns about the pace of spending. The company maintained its aggressive approach, arguing the outlays are necessary to stay ahead of rivals including Uber Eats. Gross order value rose 37% from a year earlier to $31.6 billion in the first quarter, beating estimates.

Net income fell to $184 million, or 42 cents per share, from $193 million, or 44 cents per share, a year ago. The gross margin expanded to 51.9%, slightly above forecasts.

DoorDash joined other delivery companies in launching a relief program for drivers facing higher gas prices during the recent conflict in Iran. The company expects the initiative to cost more than $50 million in the second quarter and plans to offset the expense by adjusting investments in other areas.

The program is one of several steps the company is taking to support its workforce while expanding globally. DoorDash said it may extend the gas rewards if needed but will maintain discipline on overall spending and profitability.

“We expect these efforts will allow us to invest more efficiently, operate more effectively, and drive higher levels of growth in the communities we serve.”

The stock had already climbed about 12% in initial after-hours trading before reaching a peak gain exceeding 15%. The results come as DoorDash works to translate its technology investments into sustained competitive advantages. The company's marketplace gross order value for the first quarter beat analyst projections by a small margin.

DoorDash continues to expand its international presence while adding new services such as reservations and autonomous delivery options.