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Consumer Internet Stocks Q1 Earnings: Revolve (NYSE:RVLV) Firing on All Cylinders


Kayode Omotosho /
2022/06/23 4:31 am EDT
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Quarterly earnings results are a good time to check in on a company’s progress, especially compared to other peers in the same sector. Today we are looking at Revolve (NYSE:RVLV), and the best and worst performers in the consumer internet group.

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 mixed Q1; on average, revenues beat analyst consensus estimates by 1.7%, while on average next quarter revenue guidance was 2.69% under consensus. Tech stocks have had a rocky start in 2022 and consumer internet stocks have not been spared, with share price down 20.6% since earnings, on average.

Best Q1: Revolve (NYSE:RVLV)

Launched in 2003 by software engineers Michael Mente and Mike Karanikolas, Revolve Group (NASDAQ: RVLV) is a next generation fashion retailer that leverages social media and a community of fashion influencers to drive its merchandising strategy.

Revolve reported revenues of $283.4 million, up 58.4% year on year, beating analyst expectations by 10.4%. It was an incredible quarter for the company, with an impressive beat of analyst estimates and an exceptional revenue growth.

“We’ve had an exceptional start to the year, highlighted by 58% net sales growth year-over-year in the first quarter, record quarterly growth in active customers, and record levels of net income and operating cash flow for any first quarter,” said co-founder and co-CEO Mike Karanikolas.

Revolve Total Revenue

The company reported 2.04 million active customers, up 38.1% year on year. The stock is down 34.4% since the results and currently trades at $28.57.

Is now the time to buy Revolve? Access our full analysis of the earnings results here, it's free.

Booking (NASDAQ:BKNG)

Formerly known as The Priceline Group, Booking Holdings (NASDAQ: BKNG) is the world’s largest online travel agency.

Booking reported revenues of $2.69 billion, up 136% year on year, beating analyst expectations by 6.59%. It was a stunning quarter for the company, with an exceptional revenue growth and growing number of users.

Booking Total Revenue

Booking delivered the fastest revenue growth among its peers. The company reported 198 million nights booked, up 100% year on year. The stock is down 10.7% since the results and currently trades at $1,889.

Is now the time to buy Booking? Access our full analysis of the earnings results here, it's free.

Slowest Q1: 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 $536 million, down -18.8% year on year, missing analyst expectations by 6.49%. It was a weak quarter for the company, with declining number of users and a slow revenue growth.

Overstock had the slowest revenue growth in the group. The company reported 7.4 million active buyers, down 25.3% year on year. The stock is down 6.02% since the results and currently trades at $29.50.

Read our full analysis of Overstock's results here.

Lyft (NASDAQ:LYFT)

Founded by Logan Green and John Zimmer as a long-distance intercity carpooling company Zimride, Lyft (NASDAQ: LYFT) operates a ridesharing network in the US and Canada.

Lyft reported revenues of $875.5 million, up 43.7% year on year, beating analyst expectations by 3.46%. Despite the stock dropping on the results, it was still a decent quarter for the company, with strong revenue growth and growing number of users.

The company reported 17.8 million paying users, up 31.9% year on year. The stock is down 51.4% since the results and currently trades at $14.90.

Read our full, actionable report on Lyft here, it's free.

Wayfair (NYSE:W)

Launched in 2002 by founder Niraj Shah, Wayfair (NYSE: W) is a leading online retailer for mass market home goods in the US, UK, Canada, and Germany.

Wayfair reported revenues of $2.99 billion, down 14% year on year, in line with analyst expectations. It was a weak quarter for the company, with declining number of users and a slow revenue growth.

The company reported 25.4 million active buyers, down 23.5% year on year. The stock is down 47.3% since the results and currently trades at $47.80.

Read our full, actionable report on Wayfair here, it's free.

The author has no position in any of the stocks mentioned