DoorDash Inc. shares tumbled 5.4% in after-hours trading Wednesday after the food delivery giant reported fourth-quarter earnings that fell short of analyst expectations. The company posted adjusted earnings of $0.48 per share, missing the consensus estimate of $0.59 per share, while revenue of $3.96 billion slightly undershot projections of $3.98 billion.

Despite the earnings miss, DoorDash showed robust growth metrics with total orders jumping 32% year-over-year to 903 million and Marketplace Gross Order Value increasing 39% to $29.7 billion. Adjusted EBITDA rose 38% to $780 million, though its margin as a percentage of GOV dipped to 2.6% from 2.7% in the prior year period. The company completed its acquisition of Deliveroo in October, which contributed to strong order growth.

For the first quarter of 2026, DoorDash expects Marketplace GOV between $31.0 billion and $31.8 billion, with Adjusted EBITDA guidance of $675 million to $775 million. The company cited three factors impacting its outlook: investments in Deliveroo, an estimated $20 million impact from severe storms in the U.S., and increased Dasher costs per order. The stock decline reflects investor disappointment with the earnings miss despite strong top-line growth.