May 6 (Reuters) - DoorDash on Wednesday forecast second-quarter marketplace gross order value above analysts' estimates, helped by resilient demand and the online delivery firm's expansion across grocery, retail and international markets.
Shares of the company were up 10% in extended trading.
The company also beat estimates for quarterly adjusted profit and marketplace GOV, the total dollar value of orders placed through its platform.
Demand is improving as consumers increasingly prioritize convenience,
even for non-essential items, boosting demand for online grocery delivery services.
Earlier in the day, peers including Instacart forecast second-quarter gross transaction value largely above Wall Street expectations, while Uber, which owns UberEats, also forecast second-quarter bookings above Wall Street estimates.
DoorDash expects marketplace GOV in the second quarter to be in the range of $32.4 billion to $33.4 billion, compared to analyst expectations of $31.8 billion.
For the current quarter, DoorDash expects adjusted operating earnings before interest, taxes, depreciation, and amortization (EBITDA) to be in the range of $770 million to $870 million, the midpoint of which is a touch below analysts' estimate of $822.5 million.
The company said it expects the gross cost of the Dasher gas relief program to be over $50 million due to higher gas prices.
DoorDash last month launched an emergency relief program to help U.S. gig workers who are grappling with surging oil prices stemming from the U.S.-Iran war.
The company reported adjusted earnings of 42 cents per share for the first quarter ended March 31, beating analysts' estimate of 36 cents per share, according to data compiled by LSEG.
Quarterly revenue came in at $4.04 billion, compared with analysts' estimates of $4.14 billion.
(Reporting by Koyena Das in Bengaluru; Editing by Tasim Zahid)
