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DASH Q2 Benefits From Strong Marketplace GOV: Time to Buy the Stock?

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Key Takeaways

  • DoorDash's Marketplace GOV rose 23% to $24.2B, surpassing the consensus estimate.
  • Q2 earnings hit $0.65 per share versus a $0.38 loss last year, beating forecasts.
  • Total orders grew 20% to 761M, fueled by MAUs and membership program expansion.

DoorDash’s (DASH - Free Report) second-quarter 2025 Marketplace GOV increased 23% year over year to $24.2 billion. The figure beat the Zacks Consensus mark by 2.67%. Growth can be attributed to strong demand across platforms.

In the second quarter of 2025, DASH reported earnings of 65 cents per share against the year-ago quarter’s loss of 38 cents per share. The figure beat the Zacks Consensus Estimate by 54.76%.

Revenues increased 24.9% year over year to $3.28 billion, beating the consensus mark by 3.80%. The net revenue margin rose to 13.5% in the second quarter of 2025 from 13.3% in the second quarter of 2024. Growth was driven by the year-over-year increase in Marketplace GOV.

Click here to check the details of DASH Semiconductor’s second-quarter 2025 results.

DASH Total Orders Gain on Customer Base and Demand

DoorDash is benefiting from a large customer base and strong growth in average consumer engagement, which has enhanced its order volume. In the second quarter of 2025, total orders increased 20% year over year to 761 million. The figure beat the Zacks Consensus Estimate by 1.36%. 

Growth in Total Orders was also driven by an increase in monthly active users and the expansion of membership programs like DashPass and Wolt+. These programs have contributed to higher average order frequency, which reached an all-time high in the second quarter of 2025.

The U.S. marketplace, in particular, showed notable strength, with the restaurant category playing a key role in driving order volume. 

Internationally, total orders grew at an even faster pace than in the United States, highlighting the success of DoorDash’s global expansion strategy.  The addition of new Wolt+ members in the second quarter of 2025 further boosted order frequency in international markets.

DASH Benefits From Strong Growth in Advertising

In the second quarter of 2025, DoorDash’s advertising business exceeded $1 billion in annualized revenue run rate, driven by its focus on delivering high merchant ROAS (Return on Ad Spend) and consumer conversion rates.
 
DoorDash’s acquisition of ad tech platform Symbiosys for $175 million further expands its advertising reach beyond the DoorDash app, adding AI-powered tools and off-site capabilities across search, social, and display to boost transparency, control, and sales for brands and restaurants.

Zacks Rank & Upcoming Earnings to Watch

DoorDash currently sports a Zacks Rank #1 (Strong Buy), which implies that investors should accumulate the stock right now. 

Some other top-ranked stocks in the broader Zacks Computer and Technology sector are Autodesk (ADSK - Free Report) , Applied Materials (AMAT - Free Report) , and Cisco Systems (CSCO - Free Report) . Each stock carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Autodesk is set to report second-quarter fiscal 2026 results on Aug. 28. 

Applied Materials is slated to report third-quarter fiscal 2025 results on Aug. 14. 

Cisco Systems is set to report fourth-quarter fiscal 2025 results on Aug. 13. 

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