1季度业绩符合预期；稳健增长前景不变

Investment Rating - The report does not specify a clear investment rating for DoorDash [9][29]. Core Insights - DoorDash's 1Q24 performance met expectations, with average daily orders and total transaction value increasing by 20% and 21% year-over-year, respectively [30]. - The company is the leading food delivery platform in the U.S., with a market share of 67% as of March 2024, significantly ahead of competitors like Uber Eats and Grubhub [31]. - The guidance for 2Q24 indicates a year-over-year growth in transaction value of 15-18%, with manageable impacts from minimum wage laws on rider costs and user orders [30][31]. Financial Performance Summary - Total revenue for 1Q24 was $2.51 billion, reflecting a year-over-year increase of 23$371 million, corresponding to a profit margin of 14.8%, which is a 5 percentage point increase year-over-year [10][37]. - Contribution profit for 1Q24 was $751 million, up 41$19.2 billion in 1Q24, a 21% increase year-over-year [10][35]. Future Outlook - The market consensus expects a 20% year-over-year revenue growth for DoorDash in 2024, with an adjusted EBITDA of $1.7 billion, reflecting a profit margin of 17% [7]. - The report emphasizes the importance of monitoring changes in order volume, market share improvements, and advertising progress as key indicators for future performance [16].