As we reflect back on the just completed Q4 consumer internet sector earnings season, we dig into the relative performance of Meta (NASDAQ:META) and its peers.
The ways people shop, transport, communicate, learn and play are undergoing a tremendous, technology-enabled change. Consumer internet companies are playing a key role in lives being transformed, simplified and made more accessible.
The 17 consumer internet stocks we track reported a slower Q4; on average, revenues beat analyst consensus estimates by 1.24%, while on average next quarter revenue guidance was 2.26% under consensus. Technology stocks have been hit hard on fears of higher interest rates as investors search for near-term cash flows, but consumer internet stocks held their ground better than others, with share prices down 4.22% since the previous earnings results, on average.
Meta (NASDAQ:META)
Famously founded by Mark Zuckerberg in his Harvard dorm, Meta Platforms (NASDAQ: META ) operates a collection of the largest social networks in the world - Facebook, Instagram, WhatsApp, and Messenger, along with its metaverse focused Facebook Reality Labs.
Meta reported revenues of $32.2 billion, down 4.47% year on year, beating analyst expectations by 1.5%. It was a decent quarter for the company, with revenue guidance for the next quarter in line with analysts' expectations.
"Our community continues to grow and I'm pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives," said Mark Zuckerberg, Meta founder and CEO.
The company reported 3.74 billion monthly active people, up 4.17% year on year. The stock is up 19.7% since the results and currently trades at $183.33.
Read our full report on Meta here, it's free.
Best Q4: Uber (NYSE:UBER)
Born out of a winter night thought: "What if you could request a ride from your phone?" Uber (NYSE: UBER) operates a global network of on demand services, most prominently ride hailing and food delivery, and freight.
Uber reported revenues of $8.61 billion, up 49% year on year, beating analyst expectations by 1.18%. It was a strong quarter for the company, with exceptional revenue growth and growing number of users.
Uber pulled off the fastest revenue growth among its peers. The company reported 131 million paying users, up 11% year on year. The stock is down 2.17% since the results and currently trades at $34.21.
Is now the time to buy Uber? Access our full analysis of the earnings results here, it's free.
Weakest Q4: Overstock (NASDAQ:OSTK)
Originally launched as a website focusing on selling clearance sale electronics and home goods merchandise, Overstock (NASDAQ: OSTK) is a leading online retailer of home goods, primarily furniture.
Overstock reported revenues of $404.9 million, down 33.9% year on year, missing analyst expectations by 9.75%. It was a weak quarter for the company, with declining number of users and revenue.
Overstock had the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 5.2 million active buyers, down 35.8% year on year. The stock is down 12% since the results and currently trades at $18.53.
Read our full analysis of Overstock's results here.
The RealReal (NASDAQ:REAL)
Founded by consignment store aficionado Julie Wainwright, The RealReal (NASDAQ: REAL) is an online marketplace for buying and selling secondhand luxury goods.
The RealReal reported revenues of $159.7 million, up 10% year on year, beating analyst expectations by 1.53%. It was a weaker quarter for the company, with an underwhelming revenue guidance for the next quarter and slow revenue growth.
The company reported 1 million paying users, up 25.2% year on year. The stock is up 27.9% since the results and currently trades at $1.74.
Read our full, actionable report on The RealReal here, it's free.
Expedia (NASDAQ:EXPE)
Originally founded as a part of Microsoft, Expedia (NASDAQ: EXPE) is one of the world’s leading online travel agencies.
Expedia reported revenues of $2.62 billion, up 14.9% year on year, missing analyst expectations by 3.04%. It was a weaker quarter for the company, with a miss of the top line analyst estimates and slow revenue growth.
The company reported 74.6 million nights booked, up 18.6% year on year. The stock is down 8.99% since the results and currently trades at $107.16.
Read our full, actionable report on Expedia here, it's free.
The author has no position in any of the stocks mentioned