Neighborhood social network Nextdoor (NYSE:KIND) will be reporting earnings tomorrow after market close. Here's what to expect.
Last quarter Nextdoor reported revenues of $56.09 million, up 4% year on year, missing analyst expectations by 0.4%. It was a weak quarter for the company, with slow revenue growth and a miss of analysts' revenue estimates. The company reported 40.4 million daily active users, up 5.5% year on year.
Is Nextdoor buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Nextdoor's revenue to decline 3.9% year on year to $51.18 million, improvement on the 10.2% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.11 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Nextdoor's peers in the social networking segment, some of them have already reported Q4 earnings results, giving us a hint ofwhat we can expect. Pinterest delivered top-line growth of 11.9% year on year, missing analyst estimates by 0.9% and Meta reported revenues up 24.7% year on year, exceeding estimates by 2.4%. Pinterest traded down 21.4% on the results, and Meta was up 8.3%.
Read our full analysis of Pinterest's results here and Meta's results here.
Investors in the social networking segment have had steady hands going into the earnings, with the stocks down on average 1.3% over the last month. Nextdoor is up 28.1% during the same time, and is heading into the earnings with analyst price target of $2.5, compared to share price of $2.1.
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