DoorDash CEO Tony Xu discussed his company's earnings with CNBC's Jim Cramer on Wednesday.
DoorDash, a delivery service company, reported earnings after the bell and posted $2.13 billion in second-quarter revenue, higher than the $2.06 billion analyst consensus estimate, according to FactSet. The company alsoXu added the company saw significant losses during the pandemic when it"We cut our commissions by 50%, we were the only platform and service to do so," he said. "I mean, that cost us hundreds, you know, over a $100 million while doing that.
The company's net loss narrowed to $172 million during the second quarter from $263 million a year earlier. "I wouldn't call it a pivot," Xu said. "I mean, really, to us, this is, you know, natural growth. We are still on offense, we are still in investment mode, we want to build the biggest sized business for the long run."
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