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Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Airbnb (NASDAQ:ABNB) 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 50 consumer internet stocks we track reported a satisfactory Q3. 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 13.8% on average since the latest earnings results.
Airbnb (NASDAQ:ABNB)
Founded by Brian Chesky and Joe Gebbia in their San Francisco apartment, Airbnb (NASDAQ:ABNB) is the world’s largest online marketplace for lodging, primarily homestays.
Airbnb reported revenues of $3.73 billion, up 9.9% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with an impressive beat of analysts’ EBITDA estimates but revenue guidance for next quarter slightly missing analysts’ expectations.
Unsurprisingly, the stock is down 10% since reporting and currently trades at $132.65.
Is now the time to buy Airbnb? Access our full analysis of the earnings results here, it’s free.
Best Q3: EverQuote (NASDAQ:EVER)
Aiming to simplify a once complicated process, EverQuote (NASDAQ:EVER) is an online insurance marketplace where consumers can compare and purchase various types of insurance from different providers
EverQuote reported revenues of $144.5 million, up 163% year on year, outperforming analysts’ expectations by 3%. The business had a stunning quarter with EBITDA guidance for next quarter exceeding analysts’ expectations.
EverQuote pulled off the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 13.4% since reporting. It currently trades at $19.65.
Is now the time to buy EverQuote? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Skillz (NYSE:SKLZ)
Taking a new twist at video gaming, Skillz (NYSE:SKLZ) offers developers a platform to create and distribute mobile games where players can pay fees to compete for cash prizes.
Skillz reported revenues of $24.56 million, down 32.6% year on year, falling short of analysts’ expectations by 7.9%. It was a disappointing quarter as it posted a decline in its users.
Skillz delivered the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 121,000 monthly active users, down 28% year on year. As expected, the stock is down 8.7% since the results and currently trades at $5.15.