Earnings results often give us a good indication of what direction the company take in the months ahead. With Q2 now behind us, let’s have a look at Overstock (NASDAQ:OSTK) 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 18 consumer internet stocks we track reported a slower Q2; on average, revenues were in line with analyst consensus estimates, while on average next quarter revenue guidance was 8.04% under consensus. Tech multiples have reverted to the historical mean after reaching all time levels in early 2021 and consumer internet stocks have not been spared, with share prices down 19.6% since the previous earnings results, on average.
Slowest Q2: 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 $528.1 million, down 33.6% year on year, missing analyst expectations by 12%. It was a weak quarter for the company, with declining number of users.
"Our disciplined execution and differentiated asset-light operating model allowed us to remain profitable for the ninth consecutive quarter, even with weak consumer sentiment, ongoing macroeconomic and geopolitical volatility, higher inflation, and significant competitive pressures including competitors liquidating their excess owned inventory," said Overstock CEO Jonathan Johnson.
Overstock delivered the weakest performance against analyst estimates and declining growth. The company reported 6.5 million active buyers, down 29.4% year on year. The stock is down 16.6% since the results and currently trades at $23.57.
Read our full report on Overstock here, it's free.
Best Q2: 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 $3.18 billion, up 50.6% year on year, beating analyst expectations by 6.42%. It was a stunning quarter for the company, with an exceptional revenue growth and growing number of users.
The company reported 79.1 million nights booked, up 39.7% year on year. The stock is down 6.09% since the results and currently trades at $96.12.
Is now the time to buy Expedia? Access our full analysis of the earnings results here, it's free.
Fiverr (NYSE:FVRR)
Based in Tel Aviv, Fiverr (NYSE: FVRR) operates a fixed price global freelance marketplace for digital services.
Fiverr reported revenues of $85 million, up 12.9% year on year, missing analyst expectations by 1.85%. It was a weak quarter for the company, with revenue guidance for both the next quarter and the full year missing analysts' expectations.
Fiverr had the weakest full year guidance update in the group. The company reported 4.2 million active buyers, up 5% year on year. The stock is down 27.2% since the results and currently trades at $26.98.
Read our full analysis of Fiverr's results here.
Roku (NASDAQ:ROKU)
Spun out from Netflix, Roku (NASDAQ: ROKU) makes hardware players that offer access to various online streaming TV services.
Roku reported revenues of $764.4 million, up 18.4% year on year, missing analyst expectations by 5%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of the top line analyst estimates.
The company reported 63.1 million monthly active users, up 14.5% year on year. The stock is down 40.4% since the results and currently trades at $50.80.
Read our full, actionable report on Roku here, it's free.
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 $154.4 million, up 47.2% year on year, in line with analyst expectations. It was a slower quarter for the company, with revenue guidance for both the next quarter and the full year missing analysts' expectations.
The RealReal scored the highest full year guidance raise among the peers. The company reported 889 thousand paying users, up 21.7% year on year. The stock is down 60% since the results and currently trades at $1.22.
Read our full, actionable report on The RealReal here, it's free.
The author has no position in any of the stocks mentioned