DoorDash said Thursday that it set records for orders and revenue in the second quarter, growth that came despite slowing U.S. restaurant traffic.
The San Francisco-based delivery company said its total orders rose 19% to 635 million in the April-June period. That was ahead of the 625 million Wall Street expected, according to analysts polled by FactSet.
DoorDash said revenue rose 23% to $2.6 billion, which also exceeded analysts’ forecast of $2.5 billion.
DoorDash shares jumped nearly 14% in after-hours trading.
U.S. restaurant demand has weakened in recent months as more inflation-weary consumers opt to cook at home. Circana, a market research firm, said restaurant traffic was down 2.6% in the first half of the year.
Earlier this week, McDonald’s reported a 1% drop in same-store sales during the April-June period, the first decline since the end of 2020. Starbucks also said its quarterly revenue fell due to weak customer traffic.
But DoorDash has increasingly moved beyond delivering restaurant food …