DOORDASH Inc raised its full-year forecast for a key industry metric on Thursday, indicating it has largely skirted labour woes that have plagued most sectors to ensure seamless delivery of food and groceries. Shares of DoorDash surged 9 per cent after it also reported a better-than-expected 35 per cent jump in quarterly revenue, while allaying investor concerns that an easing pandemic would prompt people to eat out more and order in less. The company’s image as an enabler of gig economy has helped attract a steady stream of delivery agents, unlike Domino’s Pizza and Pizza Hut that have struggled to maintain their fleet of riders in a tough labour market. DoorDash has managed to hold on to its delivery agents due in part to its move to ease the pressure of higher petrol prices by offering cashbacks and simplifying the process of working with the company, CFO Prabir Adarkar told Reuters. The company now estimates gross order value, the total value of all app orders and subscription fees, of US$49 billion to US$51 billion for 2022, compared with its prior range of US$48 billion to US$50 billion. “Consumers like convenience. They like the benefit of being able to get food and goods delivered to their front door. As they start using the product, they build a habit and increase the usage over time,” Adarkar said. Data from YipitData showed DoorDash’s market share in the US food delivery sector improved by one percentage point to 57 per cent in March, with Grubhub ceding ground. For the first quarter, however, DoorDash’s loss per share widened to 48 cents from 34 cents last year, as it invested heavily in building out its delivery network for groceries and other essentials as well as expanding its international business. Revenue was US$1.46 billion for the quarter ended March 31. Analysts were expecting a loss of 41 cents per share on revenue of US$1.38 billion, according to IBES data from Refinitiv. REUTERS