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 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. 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 the share prices up 8.05% since the previous earnings results, on average.
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 $268.7 million, up 10% year on year, beating analyst expectations by 4.26%. It was a strong quarter for the company, with growing number of users and a decent beat of analyst estimates.
"We delivered another profitable quarter with double-digit growth in net sales in the third quarter of 2022, despite the increasingly challenged macro environment," said co-founder and co-CEO Mike Karanikolas.
The company reported 2.24 million active customers, up 34% year on year. The stock is up 6.61% since the results and currently trades at $23.69.
Is now the time to buy Revolve? Access our full analysis of the earnings results here, it's free.
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 pulled off the fastest revenue growth among its peers. The company reported 124 million paying users, up 13.7% year on year. The stock is up 9.1% since the results and currently trades at $29.
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 a declining number of users and revenue.
Overstock had the slowest revenue growth in the group. The company reported 5.8 million active buyers, down 33.3% year on year. The stock is down 20.9% since the results and currently trades at $20.25.
Based in Tel Aviv, Fiverr (NYSE: FVRR) operates a fixed price global freelance marketplace for digital services.
Fiverr reported revenues of $82.5 million, up 11% year on year, beating analyst expectations by 1.72%. It was a weaker quarter for the company, with an underwhelming revenue guidance for the next quarter and slow revenue growth.
The company reported 4.2 million active buyers, up 2.43% year on year. The stock is up 20.5% since the results and currently trades at $34.28.
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 mixed quarter for the company, with a decent beat of analyst estimates but slow revenue growth.
The company reported 445 million monthly active users, up 0.22% year on year. The stock is up 18.3% since the results and currently trades at $25.91.
The author has no position in any of the stocks mentioned