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DoorDash posts better-than-expected Q1 sales but shares fall on cost concerns

Economic Times

Economic Times · 1y ago

DoorDash posts better-than-expected Q1 sales but shares fall on cost concerns

DoorDash reported higher-than-expected revenue in Q1 due to increased U.S. grocery orders offsetting slower restaurant demand. Despite this, the company's shares fell 12% as investors expressed concerns about rising costs. DoorDash's net loss in Q1 narrowed to $23 million, but it was higher than the forecasted loss. The company also increased marketing expenses and research costs. DoorDash expects pretax earnings of $325 million to $425 million in Q2, lower than analysts' forecast. The company's revenue rose by 23% to $2.51 billion, beating expectations. DoorDash's total orders increased by 21% to 620 million, with significant growth in U.S. grocery orders. However, the value of U.S. restaurant orders grew at a slower pace. Additionally, new minimum wage rules in New York and Seattle affected DoorDash's sales, resulting in reduced orders.

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Lyft's soft forecast fans worries of losing ground to Uber, shares tank

Economic Times

Economic Times · 1y ago

Lyft's soft forecast fans worries of losing ground to Uber, shares tank

Lyft's shares plummeted 16% as the company's soft forecast for the summer quarter raised concerns about its competition with Uber. Lyft's shares hit an eight-month low, resulting in a market value loss of over $700 million. While Uber has a global presence and diverse services, Lyft has focused on competitive fares and cost-cutting measures to boost its business. Despite their rivalry, some analysts believe the market needs a second competitor to maintain pricing balance. Lyft's forecast for the next quarter fell below analyst estimates, but the company reported better-than-expected revenue and achieved a net profit in the previous quarter.

Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%

Entrackr

Entrackr · 1m ago

Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%

Fintrackr All Stories Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90% Eternal released its financial results for the first quarter of FY26 on Monday. The Gurugram-based company reported a 90% fall in profit for the quarter ending June 2025. Eternal’s revenue from operations grew 70% to Rs 7,167 crore in Q1 FY26 in contrast to Rs 4,206 crore in Q1 FY25, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). Eternal operates several business units, including a food marketplace, Hyperpure, and a quick commerce platform, BlinkIt. Income from Eternal’s food delivery business contributed 31% of the total revenue in Q1 FY26, growing 16% to Rs 2,261 crore from Rs 1,942 crore in Q1 FY25. Revenue from Hyperpure (B2B supplies) and the quick commerce segment (Blinkit) saw significant growth, rising 89% to Rs 2,295 crore and 155% to Rs 2,400 crore, respectively, during the first quarter of FY26. Earnings from the 'Going-out' segment and other non-operating income brought the Eternal Group’s total revenue to Rs 7,521 crore in Q1 FY26. On the cost side, Delivery and related charges accounted for 25% of Eternal's total expenditure, at Rs 1,869 crore in Q1 FY26. Employee benefit cost rose 57% to Rs 830 crore while spending on advertising and marketing increased by 69% to Rs 671 crore in Q1 FY26. Overall, the company’s overall expenditure increased by 77% to Rs 7,433 crore in Q1 FY26, up from Rs 4,203 crore in Q1 FY25. The 70% surge in advertising led the company's profit to fall by 90% to Rs 25 crore in Q1 FY26 from Rs 253 crore in Q1 FY25. On a per-unit basis, the Gurugram-based company spent Rs 1.04 to earn every rupee of revenue during the quarter ending March 2025. At 15:37 on Monday (July 21), Eternal’s shares were priced at Rs 274, giving the foodtech platform a market capitalization of Rs 2,64,564 crore (approximately $31.2 billion).

Microsoft challenges Apple as world's most valuable company

Economic Times

Economic Times · 1y ago

Microsoft challenges Apple as world's most valuable company

Apple's recent stock dip has put it at risk of being overtaken by Microsoft as the world's most valuable company. Concerns over iPhone sales and smartphone demand have caused Apple's shares to fall, while Microsoft's shares have remained stable. Apple's market capitalization currently stands at $2.866 trillion, slightly higher than Microsoft's $2.837 trillion. Both companies have experienced fluctuations in their market value in the past, with Microsoft briefly surpassing Apple in 2021. Analysts predict a slight revenue increase for Apple in the coming quarter, while Microsoft is expected to report a 16% revenue increase.

Jeeps could crash the party at GM and Ford

Livemint

Livemint · 1y ago

Jeeps could crash the party at GM and Ford

General Motors (GM) and Ford are expected to report resilient financial results for the first half of the year, with record revenues. This can be attributed to the strength of the American consumer, sales discipline among manufacturers, and a slowdown in electric vehicle sales. The Detroit automakers have benefited from better-than-expected sales prices, despite a stalling recovery in sales. Furthermore, the slowdown in electric vehicle sales has alleviated investor concerns, allowing GM and Ford to see their shares rise this year. However, the biggest risk in the second half is the potential slipping of pricing discipline, especially with Stellantis struggling to shift its vehicles.

Rupee drops below 84 per dollar on equity outflows, oil prices

VCCircle

VCCircle · 11m ago

Rupee drops below 84 per dollar on equity outflows, oil prices

- Indian rupee falls below 84 per dollar for the first time on concerns of oil prices and foreign outflows from equity market. - The Reserve Bank of India (RBI) had defended the 84 level, but the rupee breached it on Friday. - RBI intervened by instructing state-run banks to sell dollars to prevent a sharp fall in the rupee. - The rupee may face further pressure, but the RBI is expected to only allow marginal depreciation to maintain stability. - Factors contributing to the rupee's decline include rising oil prices, foreign selling of Indian shares, and a widening trade deficit leading to a shrinking balance of payments surplus. - Asian currencies have performed better than the rupee recently, while expectations rise for the Indian central bank to cut rates.

McDonald's India franchisee Westlife posts surprise profit drop on higher costs

Reuters · 1y ago

McDonald's India franchisee Westlife posts surprise profit drop on higher costs

Westlife Foodworld, the operator of McDonald's restaurants in west and south India, reported lower-than-expected quarterly earnings due to rising costs, despite increased sales of burgers and fried chicken. Their net profit dropped to 223.7 million rupees from 315.4 million rupees a year earlier, while expenses rose by 9.7%. Revenue increased by 7.4% due to discounted meals and new store openings. The company faces challenges in a tough market, but it plans to expand its business. Westlife's shares declined by 2.2%.

Apple shares rise after positive sales outlook signals iPhone recovery

Economic Times

Economic Times · 7m ago

Apple shares rise after positive sales outlook signals iPhone recovery

Apple shares rose post-market after projecting better-than-expected sales, signaling a potential iPhone recovery bolstered by new AI features. Higher-than-anticipated sales of iPads and Macs, due to innovative chips, helped offset weaker iPhone and China revenues last quarter. CEO Tim Cook highlighted that AI features enhance product appeal, noting plans for broader language support. Despite cautious AI rollouts, strong services and ecosystem growth counterbalance iPhone challenges, particularly in China. Sales across services and hardware largely surpassed Wall Street estimates.

DoorDash orders surge 24% in the third quarter, losses narrowed to $73 million

Economic Times

Economic Times · 1y ago

DoorDash orders surge 24% in the third quarter, losses narrowed to $73 million

DoorDash reported a strong third quarter with total orders growing 24% to 543 million, exceeding analysts' expectations. The company's revenue increased by 27% to $2.16 billion, also surpassing expectations. DoorDash shares surged more than 7.5% in after-hours trading. The company saw double-digit growth in monthly active users in September and a rise in order frequency. DoorDash is also expanding its non-restaurant business and offering delivery from 100,000 non-restaurant stores in the U.S. DoorDash CEO Tony Xu noted a trend toward greater convenience, despite economic uncertainty and inflation.

Snap sees upbeat fourth quarter as new ad features start to pay off

Economic Times

Economic Times · 1y ago

Snap sees upbeat fourth quarter as new ad features start to pay off

Photo messaging app Snap reported better-than-expected quarterly revenue of $1.19 billion, thanks to its efforts in implementing AI-driven ad-targeting tools. However, doubts remain about Snap's ability to compete with larger rivals like Meta. While the company has returned to growth, analysts question whether it can achieve double-digit growth. Snap expects fourth-quarter revenue to be between $1.32 billion and $1.38 billion, but expressed concerns about potential sales risk due to geopolitical tensions. The company's net loss widened to $368 million in Q3.

Amazon cloud revenue, income forecast disappoint, shares slide

Economic Times

Economic Times · 4m ago

Amazon cloud revenue, income forecast disappoint, shares slide

Amazon's first-quarter results and forecast disappointed investors, leading to a temporary 5% drop in shares. Amazon Web Services reported slower revenue growth than expected, contributing to investor disappointment, especially following Microsoft's Azure success. Despite challenges like US-China tariffs, Amazon's sales projections exceeded estimates, offering some reassurance. CEO Andy Jassy emphasized the focus on keeping prices low. Amazon reported a Q1 revenue of $155.7 billion, with strong online ad sales growth, positioning it as a significant player in the ad market.

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