Q2 Rundown: SciPlay (NASDAQ:SCPL) Vs Other Consumer Internet Stocks
As consumer internet stocks’ Q2 earnings season wraps, let's dig into this quarter's best and worst performers, including SciPlay (NASDAQ:SCPL) and its peers.
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 34 consumer internet stocks we track reported a weaker Q2; on average, revenues beat analyst consensus estimates by 1.2% while next quarter's revenue guidance was 1.1% below consensus. Inflation (despite slowing) has investors prioritizing near-term cash flows, but consumer internet stocks held their ground better than others, with the share prices up 14.4% on average since the previous earnings results.
SciPlay (NASDAQ:SCPL)
Headquartered in Las Vegas, SciPlay (NASDAQ:SCPL) offers digital casino games that favor repetition over skill.
SciPlay reported revenues of $189.9 million, up 18.6% year on year, topping analyst expectations by 4.7%. It was a decent quarter for the company, with a beat of analysts' revenue estimates but slow revenue growth.
Josh Wilson, Chief Executive Officer of SciPlay, commented, "SciPlay has consistently grown our business and led the social casino market in performance over the past six consecutive quarters. Our strong and consistent growth reflects the delivery of great gaming and entertainment experiences to our players, and the unrivaled execution of our team.
The stock is up 16.7% since the results and currently trades at $22.94.
Is now the time to buy SciPlay? Access our full analysis of the earnings results here, it's free.
Best Q2: 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 $3.76 billion, up 39.8% year on year, outperforming analyst expectations by 5.9%. It was a very strong quarter for the company, with impressive growth in its user base and exceptional revenue growth.
MercadoLibre achieved the fastest revenue growth among its peers. The company reported 120 million daily active users, up 36.4% year on year. The stock is up 28.9% since the results and currently trades at $1,673.06.
Is now the time to buy MercadoLibre? Access our full analysis of the earnings results here, it's free.
Weakest Q2: Overstock (NASDAQ:OSTK)
Originally launched as a website focusing on selling clearance sale electronics and home goods merchandise, Overstock (NASDAQ: OSTK) is a leading online retailer of home goods, primarily furniture.
Overstock reported revenues of $373.3 million, down 18.9% year on year, falling short of analyst expectations by 5.8%. It was a weak quarter for the company, with a decline in its user base and slow revenue growth.
The stock is up 9.7% since the results and currently trades at $16.78.
Read our full analysis of Overstock's results here.
Uber (NYSE:UBER)
Born out of a winter night thought: "What if you could request a ride from your phone?" Uber (NYSE: UBER) operates a global network of on demand services, most prominently ride hailing and food delivery, and freight.
Uber reported revenues of $9.29 billion, up 11.4% year on year, falling short of analyst expectations by 2.6%. It was a weak quarter for the company, with a miss of analysts' revenue estimates and slow revenue growth.
The company reported 142 million users, up 14.5% year on year. The stock is up 32.2% since the results and currently trades at $63.63.
Read our full, actionable report on Uber here, it's free.
Roku (NASDAQ:ROKU)
Spun out from Netflix, Roku (NASDAQ: ROKU) makes hardware players that offer access to various online streaming TV services.
Roku reported revenues of $912 million, up 19.8% year on year, surpassing analyst expectations by 6.6%. It was a very good quarter for the company, with a solid beat of analysts' revenue estimates and strong growth in its user base.
The company reported 75.8 million monthly active users, up 15.9% year on year. The stock is up 40.8% since the results and currently trades at $84.04.
Read our full, actionable report on Roku here, it's free.
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The author has no position in any of the stocks mentioned
