Doordash (NASDAQ:DASH) on Tuesday announced the $1.2 -billion acquisition of restaurant booking platform SevenRooms and reported first-quarter revenue that missed expectations.
Shares fell $15.84, or 7.7%, following the news, to $189.56.
Earnings per share came in at 44 cents adjusted vs. 39 cents expected. Revenue: $3.03 billion vs. $3.09 billion expected
Doordash said the all-cash acquisition of SevenRooms, a New York City-based data platform for restaurants and hotels to manage booking information, will close in the second half of 2025.
British food delivery service Deliveroo said Tuesday that they have agreed to a takeover offer from American rival Doordash worth $3.9 billion.
“We believe both SevenRooms and Deliveroo will expand our ability to build world class services that increase our potential to grow local commerce and support our financial goals,” Doordash said in a release.
Doordash reported total orders of 732 million for the quarter, an 18% increase over the same period a year ago. Analysts polled by StreetAccount expected 732.7 million.
“So far in 2025, consumer demand on our marketplaces has remained strong, with engagement across different consumer cohorts and types that we believe is consistent with typical seasonal patterns,” the company said.
Doordash reported $193 million in net income for Q1 2025, or 44 cents per share. The company had a net loss of $23 million, or a net loss of six cents per share, in the same quarter a year ago.
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