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00:03DoorDash reported first quarter results and order guidance above expectations
00:06after the bell on Wednesday, according to CNBC.
00:10Earnings came in at $0.42 per share, beating expectations of $0.36 per share,
00:16while revenue of $4.04 billion missed estimates of $4.14 billion.
00:23DoorDash recently acquired seven rooms in Deliveroo
00:26and launched an autonomous delivery robot as the company expands its delivery and platform capabilities.
00:32The delivery platform is investing heavily in new features, acquisitions, artificial intelligence,
00:37and global expansion as it builds a unified platform and competes with rivals such as Uber Eats.
00:44DoorDash launched a relief program for drivers affected by rising gas prices during the Iran war
00:49and expects the program to cost more than $50 million in the second quarter,
00:53funded in part by reducing investment in other areas.
00:56The company expects more than $50 million in second quarter gross costs
01:00from a driver relief program launched during the war in Iran as gas prices surged.
01:05Shares surged 14% following the report.
01:08For all things money, visit Benzinga.com.
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