DoorDash (DASH) Reports Q2: Everything You Need To Know Ahead Of Earnings

On-demand food delivery service DoorDash (NYSE:DASH) will be reporting earnings tomorrow after the bell. Here's what you need to know.

DoorDash beat analysts' revenue expectations by 2.5% last quarter, reporting revenues of $2.51 billion, up 23.5% year on year. It was a solid quarter for the company, with revenue and adjusted EBITDA exceeding expectations. It reported 620 million service requests, up 21.1% year on year.

Is DoorDash a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting DoorDash's revenue to grow 19% year on year to $2.54 billion, slowing from the 32.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.61 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. DoorDash has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.8% on average.

Looking at DoorDash's peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pinterest delivered year-on-year revenue growth of 20.6%, meeting analysts' expectations, and Netflix reported revenues up 16.8%, in line with consensus estimates. Netflix traded down 1.5% following the results.

Read our full analysis of Pinterest's results here and Netflix's results here.

There has been positive sentiment among investors in the consumer internet segment, with share prices up 2.5% on average over the last month. DoorDash's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $134.7 (compared to the current share price of $107.16).

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