Let’s dig into the relative performance of Booking (NASDAQ:BKNG) and its peers as we unravel the now-completed Q4 consumer internet earnings season.
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 41 consumer internet stocks we track reported a slower Q4; on average, revenues missed analyst consensus estimates by 0.6%. while next quarter’s revenue guidance was 1.6% below consensus. Stocks–especially those trading at higher multiples–had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and while some of the consumer internet stocks have fared somewhat better than others, they collectively declined, with share prices falling 1.5% on average since the previous earnings results.
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 $4.78 billion, up 18.2% year on year, topping analyst expectations by 1.6%. It was a decent quarter for the company, with revenue narrowly topping analysts’ expectations on better-than-expected gross bookings.
The stock is down 10.9% since the results and currently trades at $3,479.82.
Is now the time to buy Booking? Access our full analysis of the earnings results here, it’s free.
Best Q4: MercadoLibre (NASDAQ:MELI)
Originally started as an online auction platform, MercadoLibre (NASDAQ:MELI) is a one-stop e-commerce marketplace and fintech platform in Latin America.
MercadoLibre reported revenues of $4.26 billion, up 41.9% year on year, outperforming analyst expectations by 2.8%. It was an impressive quarter for the company, with revenue, total payment volume (TPV), and gross merchandise volume (GMV) exceeding analysts’ estimates.
The stock is down 22.6% since the results and currently trades at $1,408.89.
Is now the time to buy MercadoLibre? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: 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 $217.2 million, down 0.2% year on year, falling short of analyst expectations by 3%. It was a weak quarter for the company, with full-year revenue guidance missing analysts’ expectations and a decline in its users.
The stock is down 8.4% since the results and currently trades at $40.71.
Read our full analysis of Shutterstock’s results here.
Etsy (NASDAQ:ETSY)
Founded by a struggling amateur furniture maker Robert Kalin and his two friends, Etsy (NASDAQ:ETSY) is one of the world’s largest online marketplaces, focusing on handmade or vintage items.
Etsy reported revenues of $842.3 million, up 4.3% year on year, surpassing analyst expectations by 1.8%. It was a mixed quarter for the company, with revenue narrowly topping analysts’ expectations. Free cash flow was also solid. On the other hand, revenue & user growth regrettably slowed.
The company reported 96.48 million active buyers, up 1.5% year on year. The stock is down 10.1% since the results and currently trades at $69.32.
Read our full, actionable report on Etsy here, it’s free.
Snap (NYSE:SNAP)
Founded by Stanford University students Evan Spiegel, Reggie Brown, and Bobby Murphy, and originally called Picaboo, Snapchat (NYSE: SNAP) is an image centric social media network.
Snap reported revenues of $1.36 billion, up 4.7% year on year, falling short of analyst expectations by 1.5%. It was a weak quarter for the company, with a miss of analysts’ revenue estimates and underwhelming revenue guidance for the next quarter.
The company reported 414 million daily active users, up 10.4% year on year. The stock is down 41.6% since the results and currently trades at $10.2.
Read our full, actionable report on Snap here, it’s free.
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