DoorDash dives after earnings miss

DoorDash fell after it reported earnings results that missed Wall Street estimates, a malaise that continued into early trading on Thursday, with DASH down 8.8% as of 5:10am ET.

The company reported earnings per share of $0.55, less than the $0.68 analysts polled by FactSet were expecting. It also reported a gross order value — a key metric that measures the total amount spent on the platform — of $25 billion, more than the $24.5 billion the Street was expecting.

DoorDash’s report comes after some of the companies that sell meals delivered through its platform have reported gloomy quarters. Bowl-based restaurants like Chipotle and Cava have been hit particularly hard, which they attribute to cash-strapped younger consumers.

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