To "do well" means to get a good result. People usually use this phrase to talk about how much money someone has made:
Their software design firm has done extremely well over the last 5 years.
You can also say that something "did OK":
We did OK in the first quarter, but I think that our second quarter growth will be really great.
Use "did OK" when the results are only gotten slightly good, or if something was really successful but you want to downplay it.