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Wrapping up Q1 earnings, we look at the numbers and key takeaways for the consumer internet stocks, including Coinbase (NASDAQ:COIN) 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 49 consumer internet stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was in line.
Luckily, consumer internet stocks have performed well with share prices up 11.5% on average since the latest earnings results.
Coinbase (NASDAQ:COIN)
Widely regarded as the face of crypto, Coinbase (NASDAQ:COIN) is a blockchain infrastructure company updating the financial system with its trading, staking, stablecoin, and other payment solutions.
Coinbase reported revenues of $2.03 billion, up 24.2% year on year. This print fell short of analysts’ expectations by 3.6%. Overall, it was a slower quarter for the company with EBITDA in line with analysts’ estimates.
Interestingly, the stock is up 28.2% since reporting and currently trades at $264.80.
Is now the time to buy Coinbase? Access our full analysis of the earnings results here, it’s free.
Best Q1: Carvana (NYSE:CVNA)
Known for its glass tower car vending machines, Carvana (NYSE:CVNA) provides a convenient automotive shopping experience by offering an online platform for buying and selling used cars.
Carvana reported revenues of $4.23 billion, up 38.3% year on year, outperforming analysts’ expectations by 6.2%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA estimates and impressive growth in its units.
The market seems happy with the results as the stock is up 18.4% since reporting. It currently trades at $306.20.
Is now the time to buy Carvana? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: The RealReal (NASDAQ:REAL)
Founded by consignment store aficionado Julie Wainwright, The RealReal (NASDAQ: REAL) is an online marketplace for buying and selling secondhand luxury goods.
The RealReal reported revenues of $160 million, up 11.3% year on year, in line with analysts’ expectations. It was a slower quarter as it posted full-year EBITDA guidance missing analysts’ expectations.
As expected, the stock is down 25.3% since the results and currently trades at $5.45.
Read our full analysis of The RealReal’s results here.
Robinhood (NASDAQ:HOOD)
With a mission to democratize finance, Robinhood (NASDAQ:HOOD) is an online consumer finance platform known for its commission-free stock and crypto trading.