Well, after the unemployment report and tech massacre on Friday, I had zero motivation to change out of my Deadpool pajamas and venture out this morning. Yes, I’m still depressed. Thankfully, DoorDash was my knight in shining armor, bringing dinner right to my doorstep.

Now, I wasn’t thrilled to see the final fee after devouring my Five Guys burger, but what really caught my eye later that night were the second-quarter numbers DoorDash just reported. Despite the economy quite literally falling off a cliff, DoorDash is proving it can still deliver profits. The San Francisco-based delivery giant just dropped some impressive stats, setting records for orders and revenue. Who says you can't thrive in a slowdown?

While many of us are tightening our belts and opting to cook at home, causing U.S. restaurant demand to weaken, DoorDash seems immune to this trend. A market research firm called Circana reported a 2.6% drop in restaurant traffic in the first half of the year. Even industry giants like McDonald's and Starbucks have reported a dip in sales. Can I just go on record to report my wife is doing her part to keep Starbucks at the pinnacle of business?

On another note, DoorDash saw its total orders jump 19% to a whopping 635 million between April and June. 635 million orders—that’s a lot of soggy pizza and french fries. Wall Street was left scratching their heads in disbelief, as this number blew past their wildest expectations. Revenue didn’t just rise; it practically danced up by 23% to $2.6 billion, trumping the forecasted $2.5 billion. Naturally, this stellar performance sent DoorDash's stock shooting up 13%.

(Source: CNBC)

It appears DoorDash Co-Founder and CEO Tony Xu isn’t seeing the slowdown others are. He pointed out that digital and delivery sales are growing, even as in-person visits decline. "We’re still in the earliest innings of the move towards digital experiences that every restaurant and retailer is participating in, and we’re lucky to be a player in the part that is growing," Xu said during a call with investors.

(Source: CNBC)

Another benefit is all of the new restaurants who continue to join DoorDash’s platform, both in the U.S. and around the world. Xu credits the company’s efforts to jazz up the customer experience—lowering delivery fees, improving app personalization, and making it easier to reorder favorites—as key factors in their success. And let’s not forget those loyal DashPass subscribers, who shell out a monthly fee for free deliveries on most orders.

But remember, DoorDash isn’t just delivering fast food meals anymore for a 50% fee. They’ve expanded their menu to include Ulta Beauty, Lowe’s, PetSmart, and a pile of West Coast grocers. It’s a good thing—so now when I’m scrolling for late night tacos I can throw in an order for a new drill and some cat food.

Looking forward, all eyes are on the third quarter. Analysts are forecasting per-share earnings of 9 cents for the July-October period, while DoorDash aims to report Marketplace GOV (the total value of orders) between $19.4 billion and $19.8 billion. Fingers crossed they hit the mark. 

So it’s obvious that despite the overall frustration in the restaurant industry, DoorDash is cooking up strong financial results and growth. All while proving that even in a tough economy, people will pay a premium to stay home and eat their favorite fast food on the couch. 

Stocks.News holds positions in DoorDash, McDonald’s, Starbucks, Ulta, and Lowes.