Consumer Internet Stocks See Mixed Results in Q2

Consumer internet stocks have had a mixed second quarter (Q2), according to a recent analysis. The group as a whole reported revenue growth of 1.3% above analysts' consensus estimates, but next quarter's revenue guidance came in 3% below expectations. Despite this, share prices for the sector are down an average of 2.2% since the latest earnings results.

Expedia (NASDAQ:EXPE), one of the world's leading online travel agencies, reported a strong Q2 with revenues of $4.32 billion, up 14% year on year and exceeding analysts' expectations by 3.5%. The company also beat estimates for EBITDA and next quarter's revenue guidance.

Alphabet (NASDAQ:GOOGL), the parent company of Google, had an even stronger Q2 with revenues of $119.8 billion, up 24.2% year on year and outperforming analysts' expectations by 2.2%. However, the stock has traded sideways since reporting.

Coinbase (NASDAQ:COIN), a blockchain infrastructure company, was one of the weaker performers in Q2 with revenues down 18.5% year on year and missing analysts' expectations by 5.9%. The company also posted a significant miss on EBITDA estimates.