-- DoorDash (DASH) late Wednesday reported first-quarter earnings ahead of Wall Street's estimates as the food delivery company achieved record membership sign-ups.
Earnings per share fell to $0.42 during the March quarter from $0.44 a year earlier, while revenue advanced 33% to $4.04 billion. Analysts polled by FactSet expected EPS of $0.36 on revenue of $4.15 billion.
DoorDash's shares surged 12% in after-hours activity. The stock is down about 26% since the start of the year through Wednesday's close.
"In (first quarter) 2026, continued product improvements and healthy consumer demand trends helped drive record membership signups, a new high for monthly active users, and strong consumer engagement across our marketplaces," the company said in a statement.
Growth in DashPass members in the US accelerated, buoyed by sign-ups and reduced churn, according to the company. Internationally, DashPass, Wolt+ and Deliveroo Plus members also grew.
DoorDash acquired UK-based food delivery company Deliveroo in October 2025.
Marketplace gross order value -- the total value of all orders completed on its marketplaces, including taxes, tips and membership fees -- climbed 37% annually to $31.6 billion, above expectations for $31.50 billion.
Orders grew 27% to 933 million, driven by an increase in the number of consumers, DoorDash said. The market was expecting 954.1 million in total orders.
DoorDash forecast second-quarter marketplace gross order value between $32.40 billion and $33.40 billion, compared with market expectations of $32.43 billion.