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Looking back on consumer subscription stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Udemy and its peers.

Consumers today expect goods and services to be hyper-personalized and on demand. Whether it be what music they listen to, what movie they watch, or even finding a date, online consumer businesses are expected to delight their customers with simple user interfaces that magically fulfill demand. Subscription models have further increased usage and stickiness of many online consumer services.

The 8 consumer subscription stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 17.1% since the latest earnings results.

Udemy

With courses ranging from investing to cooking to computer programming, Udemy is an online learning platform that connects learners with expert instructors who specialize in a wide range of topics.

Udemy reported revenues of $195.7 million, flat year on year. This print exceeded analysts’ expectations by 1.4%. Overall, it was a satisfactory quarter for the company with a solid beat of analysts’ EBITDA estimates but revenue guidance for next quarter missing analysts’ expectations significantly.

“Our Q3 results demonstrate strong momentum as Udemy evolves towards becoming the world's leading AI-powered skills acceleration platform,” said Hugo Sarrazin, President and CEO of Udemy.

Unsurprisingly, the stock is down 19.3% since reporting and currently trades at $5.15.

Best Q3: Roku

With a name meaning six in Japanese because it was the founder's sixth company that he started, Roku makes hardware players that offer access to various online streaming TV services.

Roku reported revenues of $1.21 billion, up 14% year on year, in line with analysts’ expectations. The business had a strong quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and full-year EBITDA guidance exceeding analysts’ expectations.

The market seems happy with the results as the stock is up 17.7% since reporting. It currently trades at $110.83.

Weakest Q3: Bumble

Started by the co-founder of Tinder, Whitney Wolfe Herd, Bumble is a leading dating app built with women at the center.

Bumble reported revenues of $246.2 million, down 10% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a decline in its buyers and a significant miss of analysts’ number of paying users estimates.

As expected, the stock is down 32.3% since the results and currently trades at $3.68.

Read our full analysis of Bumble’s results here.

Netflix

Launched by Reed Hastings as a DVD mail rental company until its famous pivot to streaming in 2007, Netflix is a pioneering streaming content platform.

Netflix reported revenues of $11.51 billion, up 17.2% year on year. This number was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also logged EPS guidance for next quarter exceeding analysts’ expectations but a significant miss of analysts’ EBITDA estimates.

Netflix had the weakest performance against analyst estimates among its peers. The company reported 317.2 million users, up 12.2% year on year. The stock is down 26.7% since reporting and currently trades at $91.06.

Read our full, actionable report on Netflix here, it’s free.

Coursera

Founded by two Stanford University computer science professors, Coursera is an online learning platform that offers courses, specializations, and degrees from top universities and organizations around the world.

Coursera reported revenues of $194.2 million, up 10.3% year on year. This print surpassed analysts’ expectations by 2.1%. Zooming out, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly.

Coursera scored the highest full-year guidance raise among its peers. The company reported 191 million active customers, up 17.8% year on year. The stock is down 37% since reporting and currently trades at $6.65.

Read our full, actionable report on Coursera here, it’s free.

As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the consumer subscription industry, including Udemy and its peers.

Consumers today expect goods and services to be hyper-personalized and on demand. Whether it be what music they listen to, what movie they watch, or even finding a date, online consumer businesses are expected to delight their customers with simple user interfaces that magically fulfill demand. Subscription models have further increased usage and stickiness of many online consumer services.

The 8 consumer subscription stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 14.8% since the latest earnings results.

Udemy

With courses ranging from investing to cooking to computer programming, Udemy is an online learning platform that connects learners with expert instructors who specialize in a wide range of topics.

Udemy reported revenues of $195.7 million, flat year on year. This print exceeded analysts’ expectations by 1.4%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ EBITDA estimates but revenue guidance for next quarter missing analysts’ expectations. 

“Our Q3 results demonstrate strong momentum as Udemy evolves towards becoming the world's leading AI-powered skills acceleration platform,” said Hugo Sarrazin, President and CEO of Udemy.

Unsurprisingly, the stock is down 8.7% since reporting and currently trades at $5.83.

Best Q3: Roku

With a name meaning six in Japanese because it was the founder's sixth company that he started, Roku makes hardware players that offer access to various online streaming TV services.

Roku reported revenues of $1.21 billion, up 14% year on year, in line with analysts’ expectations. The business had a strong quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and full-year EBITDA guidance exceeding analysts’ expectations.

The market seems happy with the results as the stock is up 17.5% since reporting. It currently trades at $110.62.

Weakest Q3: Bumble

Started by the co-founder of Tinder, Whitney Wolfe Herd, Bumble is a leading dating app built with women at the center.

Bumble reported revenues of $246.2 million, down 10% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a decline in its buyers and a significant miss of analysts’ number of paying users estimates.

As expected, the stock is down 34.7% since the results and currently trades at $3.55.

Read our full analysis of Bumble’s results here.

Coursera

Founded by two Stanford University computer science professors, Coursera is an online learning platform that offers courses, specializations, and degrees from top universities and organizations around the world.

Coursera reported revenues of $194.2 million, up 10.3% year on year. This print topped analysts’ expectations by 2.1%. Taking a step back, it was a satisfactory quarter as it also produced a solid beat of analysts’ EBITDA estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly.

Coursera pulled off the highest full-year guidance raise among its peers. The company reported 191 million active customers, up 17.8% year on year. The stock is down 30.3% since reporting and currently trades at $7.36.

Read our full, actionable report on Coursera here, it’s free.

Chegg

Started as a physical textbook rental service, Chegg is now a digital platform addressing student pain points by providing study and academic assistance.

Chegg reported revenues of $77.74 million, down 43.1% year on year. This result beat analysts’ expectations by 2%. Zooming out, it was a mixed quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but revenue guidance for next quarter missing analysts’ expectations significantly.

Chegg had the slowest revenue growth among its peers. The stock is up 4.7% since reporting and currently trades at $0.93.

Read our full, actionable report on Chegg here, it’s free.

As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the consumer internet industry, including Electronic Arts 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 47 consumer internet stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 2% while next quarter’s revenue guidance was in line.

While some consumer internet stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.9% since the latest earnings results.

Electronic Arts

Best known for its Madden NFL and FIFA sports franchises, Electronic Arts is one of the world’s largest video game publishers.

Electronic Arts reported revenues of $1.84 billion, down 9.2% year on year. This print exceeded analysts’ expectations by 1%. Despite the top-line beat, it was still a slower quarter for the company with a miss of analysts’ EBITDA estimates.

“Across our broad portfolio — from EA SPORTS to Battlefield, The Sims, and skate. — our teams continue to create high-quality experiences that connect and inspire players around the world,” said Andrew Wilson, CEO of Electronic Arts.

Interestingly, the stock is up 2.2% since reporting and currently trades at $204.70.

Best Q3: EverQuote

Aiming to simplify a once complicated process, EverQuote is an online insurance marketplace where consumers can compare and purchase various types of insurance from different providers

EverQuote reported revenues of $173.9 million, up 20.3% year on year, outperforming analysts’ expectations by 4.3%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.

The market seems happy with the results as the stock is up 19.1% since reporting. It currently trades at $26.70.

Weakest Q3: ACV Auctions

Founded in 2014, ACV Auctions (NASDAQ:ACVA) is an online auction marketplace for car dealers and wholesalers to buy and sell used cars.

ACV Auctions reported revenues of $199.6 million, up 16.5% year on year, in line with analysts’ expectations. It was a disappointing quarter as it posted full-year revenue guidance slightly missing analysts’ expectations and full-year EBITDA guidance missing analysts’ expectations significantly.

As expected, the stock is down 1.6% since the results and currently trades at $8.02.

Read our full analysis of ACV Auctions’s results here.

Udemy

With courses ranging from investing to cooking to computer programming, Udemy is an online learning platform that connects learners with expert instructors who specialize in a wide range of topics.

Udemy reported revenues of $195.7 million, flat year on year. This print beat analysts’ expectations by 1.4%. Zooming out, it was a satisfactory quarter as it also recorded a solid beat of analysts’ EBITDA estimates but revenue guidance for next quarter missing analysts’ expectations significantly.

The company reported 17,111 active buyers, up 1.6% year on year. The stock is down 8.3% since reporting and currently trades at $5.85.

Read our full, actionable report on Udemy here, it’s free for active Edge members.

DoorDash

Founded by Stanford students with the intent to build “the local, on-demand FedEx", DoorDash (NYSE:DASH) operates an on-demand food delivery platform.

DoorDash reported revenues of $3.45 billion, up 27.3% year on year. This number topped analysts’ expectations by 2.6%. Taking a step back, it was a slower quarter as it logged EBITDA guidance for next quarter missing analysts’ expectations significantly.

The company reported 776 million service requests, up 20.7% year on year. The stock is down 5.5% since reporting and currently trades at $225.88.

Read our full, actionable report on DoorDash here, it’s free for active Edge members.