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Highlights:
- Pinterest’s Q3 2022 revenue was US$ 684.55 million.
- The net revenue of Yelp in Q3 2022 was US$ 308.89 million.
- Snap Inc.'s daily active users grew 19 per cent YoY to 363 million in Q3 2022.
Social media stocks are a key part of the US equity market. Investors often keep a close eye on these stocks about any company events.
Last year was not very favorable for companies and the overall economy. It also impacted the stock market adversely. So, how have the social media stocks performed in their latest quarters and dealt with the volatility?
Let’s delve into three US social media stocks and evaluate how they fared in their last quarters:
Pinterest Inc. (NYSE: PINS)
Founded in 2010, Pinterest is an online platform where users can find products and ideas on virtually everything.
In Q3 2022, Pinterest posted revenue of US$ 684.55 million versus US$ 632.93 million in the same quarter in 2021. The company’s net loss in Q3 2022 was US$ 65.18 million compared to a net income of US$ 93.99 million in the year-ago quarter.
Its revenue guidance for the next quarter was a growth of mid-single digit YoY. The PINS stock had surged 4.5 per cent YTD at the time of writing.
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Yelp Inc. (NYSE: YELP)
Yelp Inc. is a web-based platform that helps businesses and customers connect in the US. The EPS of the company is 0.52, and it has a P/E ratio of 57.40. The total current assets of Yelp in the third quarter of 2022 were US$ 623.1 million.
The net revenue of the company in Q3 2022 was US$ 308.89 million compared to US$ 269.15 million in Q3 2021.
The net income in the third quarter of 2022 was US$ 9.1 million. Yelp’s adjusted EBITDA jumped to a record US$ 74 million in the reported quarter of FY22.
As of writing, the YELP stock had gained 10 per cent YTD.
Snap Inc. (NYSE: SNAP)
Snap Inc. is a US social media company founded in 2011 that delivers tech products and services, including Bitmoji, Spectacles, and Snapchat. The company reported that its daily active users grew 19 per cent YoY to 363 million in the third quarter of 2022.
In the three months that ended on September 30, 2022, Snap's operating cash flow was US$ 56 million, and the free cash flow was US$ 18 million.
The revenue of Snap in Q3 FY2022 was US$ 1.12 billion compared to US$ 1.06 billion in the year-ago quarter.
The net loss of Snap in Q3 2022 was US$ 360 million compared to US$ 72 million in the same quarter a year ago. The SNAP stock jumped 14.64 YTD.
Bottom line
Analyze carefully before putting your hard-earned money on any stock because the market is too volatile to overlook the finer details. However, if you are vigilant and plan for the long term, your investment might be safe until normalcy returns to the stock market.