As consumer internet stocks’ Q4 earnings season wraps, let's dig into this quarter's best and worst performers, including Wayfair (NYSE:W) 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 Q4; on average, revenues beat analyst consensus estimates by 1.24%, while on average next quarter revenue guidance was 2.26% under consensus. Technology stocks have been hit hard on fears of higher interest rates as investors search for near-term cash flows and while some of the consumer internet stocks have fared somewhat better that others, they have not been spared, with share prices declining 8.02% since the previous earnings results, on average.
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 $3.1 billion, down 4.64% year on year, beating analyst expectations by 1.13%. It was a weak quarter for the company, with declining number of users and revenue.
"We are excited to see customers respond positively to improvements in our core recipe - with compelling pricing, faster delivery times and increasing availability bearing fruit in the form of market share gains," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.
The company reported 22.1 million active customers, down 19% year on year.The stock is down 34.4% since the results and currently trades at $32.65.
Read our full report on Wayfair 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 achieved the fastest revenue growth among its peers. The company reported 131 million paying users, up 11% year on year. The stock is down 6.23% since the results and currently trades at $32.79.
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 14.5% since the results and currently trades at $18.
Read our full analysis of Overstock's results here.
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 $4.05 billion, up 35.8% year on year, beating analyst expectations by 3.83%. It was an impressive quarter for the company, with growing number of users.
The company reported 211 million nights booked, up 39.7% year on year. The stock is up 0.54% since the results and currently trades at $2,440.15.
Read our full, actionable report on Booking here, it's free.
Meta (NASDAQ:META)
Famously founded by Mark Zuckerberg in his Harvard dorm, Meta Platforms (NASDAQ: META ) operates a collection of the largest social networks in the world - Facebook, Instagram, WhatsApp, and Messenger, along with its metaverse focused Facebook Reality Labs.
Meta reported revenues of $32.2 billion, down 4.47% year on year, beating analyst expectations by 1.5%. It was a slower quarter for the company, with declining revenue.
The company reported 3.74 billion monthly active users, up 4.18% year on year. The stock is up 32.6% since the results and currently trades at $202.96.
Read our full, actionable report on Meta here, it's free.
The author has no position in any of the stocks mentioned