DoorDash Acquires SevenRooms, Misses Revenue Expectations
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DoorDash announced a $1.2 billion acquisition of SevenRooms, a restaurant booking platform, and reported first-quarter revenue slightly below expectations at $3.03 billion versus the expected $3.09 billion. Earnings per share met expectations at 44 cents. Shares fell 4% following the announcement. The company also revealed a separate deal to acquire British food delivery service Deliveroo for $3.9 billion, anticipating both acquisitions to enhance its services and financial goals. Total orders increased 18% year-over-year to 732 million.
DoorDash announced a $1.2 billion acquisition of SevenRooms, a restaurant booking platform, and reported first-quarter revenue slightly below expectations at $3.03 billion versus the expected $3.09 billion. Earnings per share met expectations at 44 cents. Shares fell 4% following the announcement. The company also revealed a separate deal to acquire British food delivery service Deliveroo for $3.9 billion, anticipating both acquisitions to enhance its services and financial goals. Total orders increased 18% year-over-year to 732 million.
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