The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s have a look at how the consumer internet stocks have fared in Q4, starting with Snap (NYSE:SNAP).
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 Q4; on average, revenues beat analyst consensus estimates by 1.24%, while on average next quarter revenue guidance was 2.26% under consensus. Tech multiples have reverted to the historical mean after reaching all time levels in early 2021 and while some of the consumer internet stocks have fared somewhat better that others, they have not been spared, with share prices declining 9.72% since the previous earnings results, on average.
Founded by Stanford University students Evan Spiegel, Reggie Brown, and Bobby Murphy, and originally called Picaboo, Snapchat (NYSE: SNAP) is an image centric social media network.
Snap reported revenues of $1.3 billion, flat year on year, missing analyst expectations by 0.62%. It was a weak quarter for the company, with slow revenue growth and a miss of the top line analyst estimates.
“We ended a challenging 2022 with 375 million Daily Active Users, 12% year-over-year annual revenue growth, and positive full year Free Cash Flow," said Evan Spiegel, CEO.
The company reported 375 million daily active users, up 17.5% year on year. The stock is down 10.6% since the results and currently trades at $10.33.
Read our full report on Snap here, it's free.
Best Q4: 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 $8.61 billion, up 49% year on year, beating analyst expectations by 1.18%. It was a strong quarter for the company, with exceptional revenue growth and growing number of users.
Uber delivered the fastest revenue growth among its peers. The company reported 131 million paying users, up 11% year on year. The stock is down 2.17% since the results and currently trades at $34.21.
Is now the time to buy Uber? Access our full analysis of the earnings results here, it's free.
Weakest Q4: 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 $404.9 million, down 33.9% year on year, missing analyst expectations by 9.75%. It was a weak quarter for the company, with a declining number of users and revenue.
Overstock had the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 5.2 million active buyers, down 35.8% year on year. The stock is down 12% since the results and currently trades at $18.53.
Read our full analysis of Overstock's results here.
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 $3.1 billion, down 4.64% year on year, beating analyst expectations by 1.13%. It was a weak quarter for the company, with a declining number of users and revenue.
The company reported 22.1 million active buyers, down 19% year on year. The stock is down 33.2% since the results and currently trades at $33.24.
Read our full, actionable report on Wayfair here, it's free.
Founded by Joe Gebbia and Brian Chesky by renting out a blowup bed on the floor of their San Francisco apartment, Airbnb (NASDAQ: ABNB) is the world’s largest online marketplace for lodging, primarily homestays.
Airbnb reported revenues of $1.9 billion, up 24.1% year on year, beating analyst expectations by 2.22%. It was a very strong quarter for the company, with a very optimistic guidance for the next quarter.
The company reported 88.2 million nights booked, up 20.2% year on year. The stock is up 5.4% since the results and currently trades at $127.4.
Read our full, actionable report on Airbnb here, it's free.
The author has no position in any of the stocks mentioned