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The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how consumer internet stocks fared in Q1, starting with Robinhood (NASDAQ:HOOD).
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.
Thankfully, share prices of the companies have been resilient as they are up 10% on average 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 $927 million, up 50% year on year. This print exceeded analysts’ expectations by 1.2%. Despite the top-line beat, it was still a slower quarter for the company with a miss of analysts’ EBITDA estimates.
“This quarter, we significantly accelerated product innovation across our key initiatives, highlighted by the announcement of Robinhood Strategies, Banking, and Cortex,” said Vlad Tenev, Chair and CEO of Robinhood.
The stock is up 31.7% since reporting and currently trades at $64.76.
Is now the time to buy Robinhood? 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 16.6% since reporting. It currently trades at $301.51.
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.