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U.S. equities were lower at midday as the market watched for any possible deals involving Trump administration tariffs and awaited tomorrow's statement from the Federal Reserve policymakers following their two-day meeting. The Dow Jones Industrial Average, S&P 500, and Nasdaq all fell.
DoorDash is preparing to acquire New York City-based hospitality tech company SevenRooms. The company characterized the deal as “a significant expansion of DoorDash's Commerce Platform capabilities,” according to a Tuesday (May 6) press release.
DoorDash shares are sinking Tuesday after the food-delivery company posted first-quarter revenue that undershot analysts' forecasts.
Shares of DoorDash Inc (NYSE:DASH) fell about 8% on Tuesday morning in New York after the food delivery company posted a quarterly profit that missed some investors' expectations on margins. The company reported first-quarter adjusted EBITDA of $590 million, up from $371 million a year earlier but below some buyside hopes, despite surpassing analyst consensus estimates.
Here's our initial take on DoorDash's (DASH -7.63%) financial report.
Deliveroo investor Amazon.com has yet to say whether it will vote for DoorDash's takeover bid for the U.K. food-delivery service company.
DoorDash Inc (NYSE:DASH) had a £2.9 billion ($3.9 billion) offer for Deliveroo PLC (LSE:ROO) accepted but the San Francisco group's announcement had a telling omission, analysts said. An indicative offer of 180p per share, which was announced a week last Friday, was firmed up as a formal offer and the board has accepted on the same terms, the New York-listed company said on Tuesday.
DoorDash Inc. DASH stock dipped Tuesday after the food delivery company reported strong order growth and confirmed two major acquisitions, even as quarterly revenue missed analyst expectations.
DoorDash, Inc. (DASH) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to loss of $0.06 per share a year ago.
DoorDash swung to a first-quarter profit as demand continued to grow for online restaurant and grocery-store orders, and the company also struck a $1.2 billion deal for a maker of reservation software.