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The phrase "are doing very well" is correct and usable in written English.
You can use it to describe someone's current state of success or well-being, often in response to inquiries about their situation.
Example: "Despite the challenges, the team members are doing very well in their respective projects."
Alternatives: "are performing excellently" or "are thriving."
Exact(60)
SOME black Americans are doing very well.
Assets are doing very well.
They are doing very well.
The police are doing very well".
And some companies are doing very well.
The new generation are doing very well.
We are doing very well, thank God".
I think we are doing very well.
But we are doing very well.
And a growing number of them are doing very well.
Aguero said: "I think we are doing very well.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com