Last Updated: May 19, 2023By Tags: , ,

DoorDash Inc. recently announced that its revenue rose by 40% to $2.04 billion in the first quarter of 2023.

The company attributed the strong revenue growth to higher prices and a continued surge in demand for its delivery services.

The value of those orders also increased by 29% to $15.9 billion, exceeding Wall Street’s expectations. DoorDash is anticipating a gross order value of as much as $16.2 billion in the current quarter, highlighting the company’s resilience to the challenges of the pandemic and a highly competitive market.

DoorDash currently commands 65% of food delivery sales in the US, making it the dominant player in the industry.

The pandemic significantly benefited food delivery services, as tens of millions of people were confined to their homes and opted to order food instead of venturing out. However, even as restaurants and bars have reopened, DoorDash has continued to see strong demand for its services.

DoorDash’s revenue growth demonstrates the continued demand for convenient delivery services.