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.
![Wayfair Total Revenue](https://news-assets.stockstory.org/chart-images/Wayfair-Total-Revenue_2023-03-17-083312_tpdd.png)
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 Total Revenue](https://news-assets.stockstory.org/chart-images/Uber-Total-Revenue_2023-03-17-083318_qbuc.png)
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