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Q2 Earnings Highlights: Bumble (NASDAQ:BMBL) Vs The Rest Of The Consumer Subscription Stocks

StockStory - Thu Sep 28, 2023

BMBL Cover Image

Looking back on consumer subscription stocks' Q2 earnings, we examine this quarter's best and worst performers, including Bumble (NASDAQ:BMBL) and its peers.

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

The 7 consumer subscription stocks we track reported a mixed Q2; on average, revenues beat analyst consensus estimates by 3.32%, while on average next quarter revenue guidance was 0.32% above consensus. Tech stocks have been hit the hardest as investors start to value profits over growth and while some of the consumer subscription stocks have fared somewhat better than others, they have not been spared, with share prices declining 6.3% since the previous earnings results, on average.

Bumble (NASDAQ:BMBL)

Founded by the co-founder of Tinder, Whitney Wolfe Herd, Bumble (NASDAQ: BMBL) is a leading dating app built with women at the center.

Bumble reported revenues of $259.7 million, up 19.1% year on year, beating analyst expectations by 1.22%. It was a decent quarter for the company, with strong growth in its user base.

Bumble Total Revenue

The stock is down 18% since the results and currently trades at $14.75.

Is now the time to buy Bumble? Access our full analysis of the earnings results here, it's free.

Best Q2: Coursera (NYSE:COUR)

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

Coursera reported revenues of $153.7 million, up 23.2% year on year, beating analyst expectations by 5.13%. It was an impressive quarter for the company, with a solid beat of analysts' revenue estimates and strong growth in its user base.

Coursera Total Revenue

Coursera achieved the fastest revenue growth and highest full year guidance raise among its peers. The company reported 129 million users, up 20.6% year on year. The stock is up 41.2% since the results and currently trades at $18.36.

Is now the time to buy Coursera? Access our full analysis of the earnings results here, it's free.

Weakest Q2: Netflix (NASDAQ:NFLX)

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

Netflix reported revenues of $8.19 billion, up 2.72% year on year, missing analyst expectations by 1.24%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts' revenue estimates.

Netflix had the weakest performance against analyst estimates and slowest revenue growth in the group. The company reported 238.4 million users, up 8.03% year on year. The stock is down 21% since the results and currently trades at $376.9.

Read our full analysis of Netflix's results here.

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 $847.2 million, up 10.8% year on year, beating analyst expectations by 9.38%. It was a very good quarter for the company, with an impressive beat of analysts' revenue estimates and strong growth in its user base.

Roku delivered the strongest analyst estimates beat among the peers. The company reported 73.5 million monthly active users, up 16.5% year on year. The stock is down 0.62% since the results and currently trades at $67.77.

Read our full, actionable report on Roku here, it's free.

Chegg (NYSE:CHGG)

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

Chegg reported revenues of $182.9 million, up 11% year on year, beating analyst expectations by 3.59%. It was a mixed quarter for the company, with revenue exceeding analysts' expectations, although paying subscribers missed slightly. On the other hand, the decline in its user base was concerning and its revenue growth was quite weak.

The company reported 4.8 million users, down 9.43% year on year. The stock is down 12.9% since the results and currently trades at $8.73.

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

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The author has no position in any of the stocks mentioned