Earnings results often give us a good indication of what direction the company take in the months ahead. With Q3 now behind us, let’s have a look at Roku (NASDAQ:ROKU) 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 Q3; on average, revenues beat analyst consensus estimates by 1.41%, while on average next quarter revenue guidance was 3.9% under consensus. There has been a stampede out of high valuation technology stocks as rising interest rates encourage investors to value profits over growth again, but consumer internet stocks held their ground better than others, with share prices down 0.69% since the previous earnings results, on average.
Spun out from Netflix, Roku (NASDAQ: ROKU) makes hardware players that offer access to various online streaming TV services.
Roku reported revenues of $761.3 million, up 11.9% year on year, beating analyst expectations by 9.77%. It was a mixed quarter for the company, with an impressive beat of analyst estimates but an underwhelming revenue guidance for the next quarter.
Roku scored the strongest analyst estimates beat of the whole group. The company reported 65.4 million monthly active users, up 15.9% year on year. The stock is down 17.5% since the results and currently trades at $44.75.
Best Q3: 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 $8.34 billion, up 72.1% year on year, beating analyst expectations by 3.52%. It was a very strong quarter for the company, with exceptional revenue growth and a decent beat of analyst estimates.
Uber scored the fastest revenue growth among its peers. The company reported 124 million paying users, up 13.7% year on year. The stock is up 2.97% since the results and currently trades at $27.37.
Is now the time to buy Uber? Access our full analysis of the earnings results here, it's free.
Weakest Q3: 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 $460.2 million, down 33.2% year on year, missing analyst expectations by 2.66%. It was a weak quarter for the company, with declining number of users and slow revenue growth.
The company reported 5.8 million active buyers, down 33.3% year on year. The stock is down 26.5% since the results and currently trades at $18.83.
Created with the idea of virtually replacing paper catalogues, Pinterest (NYSE: PINS) is an online image and social discovery platform.
Pinterest reported revenues of $684.5 million, up 8.15% year on year, beating analyst expectations by 2.68%. It was a decent quarter for the company, with a beat of topline growth estimates.
The company reported 445 million monthly active users, up 0.22% year on year. The stock is up 13.6% since the results and currently trades at $24.88.
Formerly known as The Priceline Group, Booking Holdings (NASDAQ: BKNG) is the world’s largest online travel agency.
Booking reported revenues of $6.05 billion, up 29.4% year on year, beating analyst expectations by 2.25%. It was a very strong quarter for the company, with growing number of users.
The company reported 240 million nights booked, up 31.1% year on year. The stock is up 24.1% since the results and currently trades at $2,201.26.
The author has no position in any of the stocks mentioned