DoorDash sinks as weak spending threatens earnings

DoorDash Inc (NYSE:DASH) fell 8% in pre-market trading after it warned 2024 earnings could be impacted by weaker consumer spending. The delivery company said it expected gross order values (GOV), a key metric in the industry, to reach between US$74 billion and US$78 billion, a healthy jump from the near US$66 billion in 2023. However, DoorDash warned investors “that consumer spending in any of our geographies could deteriorate relative to our outlook, which could drive results below our expectations.” Under ...