Q2 Earnings Roundup: Consumer Internet Stocks Show Mixed Results
The second-quarter earnings season has come to an end, and many consumer internet stocks have reported mixed results. The segment as a whole saw revenues beat analysts' consensus estimates by 1.3%, but next quarter's revenue guidance was 3% below expectations.
Expedia (EXPE), one of the world's leading online travel agencies, had a standout quarter, reporting revenues of $4.32 billion, up 14% year on year. This exceeded analysts' estimates by 3.5%, and the company also beat EBITDA estimates and provided revenue guidance for next quarter that topped analysts' expectations.
Alphabet (GOOGL), parent company of Google Search engine, Google Cloud Platform, and YouTube, reported revenues of $119.8 billion, up 24.2% year on year, outperforming analysts' expectations by 2.2%. However, the stock has traded sideways since reporting.
Coinbase (COIN), a blockchain infrastructure company, had a disappointing quarter, with revenues down 18.5% year on year and falling short of analysts' estimates by 5.9%. The stock is up 5.5% since the results.