Doordash Earnings Result- Details - Higher Pay....

...For Executives, CEO and Mostly rich stockholders.

So, we also got our answer, NO SLOWDOWN, only OVERSATURATION OF DRIVERS. (I thought there would be a slowdown)

At least Uber had the balls to show how many drivers they had active for the quarter.

DoorDash - DoorDash Releases Second Quarter 2024 Financial Results

DoorDash (DASH) Q2 earnings report

• Total Orders increased 19% Y/Y to 635 million and Marketplace GOV increased 20% Y/Y to $19.7 billion.
• Revenue increased 23% Y/Y to $2.6 billion
• Adjusted EBITDA increased to $430 million from $279 million in Q2 2023.
• GAPP Gross profit $1.2 Billion
• Contribution Margin 31.4%, increased from 29.1% last year

Summary: The complete opposite of a "slow down".

• GAAP gross profit as a percentage of Marketplace GOV was 6.1% in Q2 2024, up from 5.8% in Q2 2023 and 5.9% in Q1 2024. Unit economics improved on a Y/Y basis

Summary: They increased their fees and lowered drivers pay, and it resulted in higher profit margins.

• In Q2 2024, we generated net cash provided by operating activities of $530 million and Free Cash Flow of $451 million, up from $393 million and $311 million, respectively in Q2 2023.
• DD has $3.6 billion in "Cash" on hand.

Summary: Before fancy tax accounting, this shows they are pulling in profit hand over fist by $2.2 billion a year and are sitting on a cash pile.

and what are they doing with said profit/cash piles?

• Year to date through July, we have repurchased a total of 2.1 million shares of our Class A common stock for $219 million
• 2024 stock-based compensation to be in a range of $1.1 billion to $1.2 billion
• Quarterly stock bonuses $554 Million
• Increased R&D in which part is used to automate deliveries, $303 million in the quarter
• Purchased two companies this year for an estimated $6 Billion.
• The forecast “anticipates significant levels of ongoing investment in new categories and international markets,” the company said in the statement.

Summary: Everything but pay drivers more. Probably buy more companies instead.

DoorDash shares have soared 54% this year as of Wednesday’s close and popped 9% after earnings report.