The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Robinhood (NASDAQ: HOOD) and the rest of the consumer internet stocks fared in Q4.
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 mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2% while next quarter’s revenue guidance was in line.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 17% since the latest earnings results.
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.
Robinhood reported revenues of $1.01 billion, up 115% year on year. This print exceeded analysts’ expectations by 7.7%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ EBITDA estimates and a decent beat of analysts’ number of funded customers estimates.
“We hit the gas on product development in 2024 with a new platform for active traders, Gold Card launch, an expanded UK and EU product suite, and much more,” said Vlad Tenev, CEO and Co-Founder of Robinhood.
The stock is down 28.3% since reporting and currently trades at $40.10.
Best Q4: 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 $3.55 billion, up 46.3% year on year, outperforming analysts’ expectations by 6.2%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 40.4% since reporting. It currently trades at $167.87.
Is now the time to buy Carvana? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: 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 $20.37 million, down 34.5% year on year, falling short of analysts’ expectations by 18.7%. It was a disappointing quarter as it posted a decline in its users and a significant miss of analysts’ number of paying monthly active users estimates.
Skillz delivered the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 110,000 monthly active users, down 19.7% year on year. As expected, the stock is down 10.2% since the results and currently trades at $4.58.
Read our full analysis of Skillz’s results here.
Shutterstock (NYSE: SSTK)
Originally featuring a library that included many of founder Jon Oringer’s photos, Shutterstock (NYSE: SSTK) is now a digital platform where customers can license and use hundreds of millions of pieces of content.
Shutterstock reported revenues of $250.3 million, up 15.2% year on year. This number lagged analysts' expectations by 1.5%. It was a softer quarter as it also recorded a decline in its requests and a miss of analysts’ EBITDA estimates.
The company reported 33 million service requests, down 6.8% year on year. The stock is down 23% since reporting and currently trades at $18.81.
Read our full, actionable report on Shutterstock here, it’s free.
ACV Auctions (NASDAQ: ACVA)
Founded in 2014, ACV Auctions (NASDAQ: ACVA) is an online auction marketplace for car dealers and wholesalers to buy and sell used cars.
ACV Auctions reported revenues of $159.5 million, up 34.8% year on year. This print surpassed analysts’ expectations by 2.4%. Zooming out, it was a slower quarter as it logged full-year EBITDA guidance missing analysts’ expectations.
The company reported 183,497 units sold, up 27.4% year on year. The stock is down 31.6% since reporting and currently trades at $14.10.
Read our full, actionable report on ACV Auctions here, it’s free.
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