As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at consumer subscription stocks, starting with Duolingo (NASDAQ: DUOL).

Consumers today expect goods and services to be hyper-personalized and on demand. Whether it be what music they listen to, what movie they watch, or even finding a date, online consumer businesses are expected to delight their customers with simple user interfaces that magically fulfill demand. Subscription models have further increased usage and stickiness of many online consumer services.

The 8 consumer subscription stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1.3% 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 14.3% since the latest earnings results.

Duolingo (NASDAQ: DUOL)

Founded by a Carnegie Mellon computer science professor and his Ph.D. student, Duolingo (NASDAQ: DUOL) is a mobile app helping people learn new languages.

Duolingo reported revenues of $271.7 million, up 41.1% year on year. This print exceeded analysts’ expectations by 4.3%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ EBITDA estimates but EBITDA guidance for next quarter missing analysts’ expectations.

Duolingo pulled off the biggest analyst estimates beat and fastest revenue growth of the whole group. The company reported 135.3 million users, up 19.6% year on year. Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 0.4% since reporting and currently trades at $176.04.

Is now the time to buy Duolingo? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Roku (NASDAQ: ROKU)

With a name meaning six in Japanese because it was the founder's sixth company that he started, Roku (NASDAQ: ROKU) makes hardware players that offer access to various online streaming TV services.

Roku reported revenues of $1.21 billion, up 14% year on year, in line with analysts’ expectations. The business had a strong quarter with EBITDA guidance for next quarter exceeding analysts’ expectations.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $93.79.

Is now the time to buy Roku? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Bumble (NASDAQ: BMBL)

Started by the co-founder of Tinder, Whitney Wolfe Herd, Bumble (NASDAQ: BMBL) is a leading dating app built with women at the center.

Bumble reported revenues of $246.2 million, down 10% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a decline in its buyers.

As expected, the stock is down 36.9% since the results and currently trades at $3.43.

Read our full analysis of Bumble’s results here.

Netflix (NASDAQ: NFLX)

Launched by Reed Hastings as a DVD mail rental company until its famous pivot to streaming in 2007, Netflix (NASDAQ: NFLX) is a pioneering streaming content platform.

Netflix reported revenues of $11.51 billion, up 17.2% year on year. This result was in line with analysts’ expectations. However, it was a slower quarter as it recorded a significant miss of analysts’ EBITDA estimates and revenue in line with analysts’ estimates.

Netflix had the weakest performance against analyst estimates among its peers. The company reported 317.3 million users, up 12.2% year on year. The stock is down 11.1% since reporting and currently trades at $110.46.

Read our full, actionable report on Netflix here, it’s free for active Edge members.

Coursera (NYSE: COUR)

Founded by two Stanford University computer science professors, Coursera (NYSE: COUR) is an online learning platform that offers courses, specializations, and degrees from top universities and organizations around the world.

Coursera reported revenues of $194.2 million, up 10.3% year on year. This number beat analysts’ expectations by 2.1%. Taking a step back, it was a satisfactory quarter as it also recorded a solid beat of analysts’ EBITDA estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly.

Coursera pulled off the highest full-year guidance raise among its peers. The company reported 191 million active customers, up 17.8% year on year. The stock is down 21.6% since reporting and currently trades at $8.27.

Read our full, actionable report on Coursera here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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