Consumer internet companies wrapped up the fourth quarter with mixed performance — total revenue came in 2% above analysts’ expectations, but guidance for the next quarter remained within consensus. Despite some standout earnings, the sector’s stocks have dropped an average of 27.7% since the results were announced.

Shares of Booking Holdings (NASDAQ:BKNG), the world’s largest online travel agency, fell 17.5% after earnings. The company reported revenue of $5.47 billion (+14.4% YoY), beating expectations by 5.4%. Still, the stock is now trading at $4,143.

Carvana (NYSE:CVNA) led the quarter, with revenue jumping 46.3% to $3.55 billion, surpassing forecasts by 6.2%. However, shares fell 35.9% and now stand at $180.70.

Skillz (NYSE:SKLZ) reported the weakest results. The mobile gaming platform saw revenue drop 34.5% to $20.37 million — 18.7% below expectations. Active users fell 19.7%. Shares plunged 30.4% to $3.55.

Netflix (NASDAQ:NFLX) reported a 16% increase in revenue to $10.25 billion, with users growing 15.9% to 301.6 million. Despite beating estimates, the market reacted cautiously, and the stock remains flat at $867.84.

Robinhood (NASDAQ:HOOD) impressed with a 115% surge in revenue to $1.01 billion, beating forecasts by 7.7%. Funded accounts reached 25.2 million (+7.7%). Nevertheless, the stock dropped 37.7% to $34.86.

Recent rate cuts by the Fed (0.5% in September 2024 and 0.25% in November) and Trump’s election victory helped drive markets to record highs. But investors remain cautious, weighing risks like new tariffs and potential corporate tax changes. All eyes are now on what 2025 might bring.