As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the consumer internet industry, including Booking (NASDAQ: BKNG) 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 45 consumer internet stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1.2% 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 5.7% since the latest earnings results.

Booking (NASDAQ: BKNG)

Formerly known as The Priceline Group, Booking Holdings (NASDAQ: BKNG) is the world’s largest online travel agency.

Booking reported revenues of $5.53 billion, up 16.2% year on year. This print was in line with analysts’ expectations, and overall, it was a strong quarter for the company with an impressive beat of analysts’ EBITDA estimates and revenue in line with analysts’ estimates.

The stock is down 7.2% since reporting and currently trades at $160.87.

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

Best Q1: Sea (NYSE: SE)

Founded in 2009 and a publicly traded company since 2017, Sea (NYSE: SE) started as a gaming platform and has since expanded to offer a variety of services such as e-commerce, digital payments, and financial services across Southeast Asia.

Sea reported revenues of $7.33 billion, up 43.2% year on year, outperforming analysts’ expectations by 9.9%. The business had a stunning quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Sea scored the biggest analyst estimates beat among its peers. The company reported 72.6 million users, up 12.4% year on year. The market seems content with the results as the stock is up 2.8% since reporting. It currently trades at $87.27.

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

Weakest Q1: Shutterstock (NYSE: SSTK)

Originally featuring a library that included many of founder Jon Oringer’s photos, Shutterstock (NYSE: SSTK) is now a digital platform where customers can license and use hundreds of millions of pieces of content.

Shutterstock reported revenues of $199.2 million, down 17.9% year on year, falling short of analysts’ expectations by 10.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and EBITDA estimates.

Shutterstock delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 7.9% since the results and currently trades at $16.22.

Read our full analysis of Shutterstock’s results here.

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 $8.85 billion, up 49% year on year. This result topped analysts’ expectations by 5.8%. Overall, it was a strong quarter as it also produced impressive growth in its users and a solid beat of analysts’ revenue estimates.

The company reported 84 million daily active users, up 25.4% year on year. The stock is down 11% since reporting and currently trades at $1,664.

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

Carvana (NYSE: CVNA)

Known for its glass tower car vending machines, Carvana (NYSE: CVNA) provides a convenient automotive shopping experience by offering an online platform for buying and selling used cars.

Carvana reported revenues of $6.43 billion, up 52% year on year. This number surpassed analysts’ expectations by 6%. It was a very strong quarter as it also logged a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is down 14% since reporting and currently trades at $68.22.

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

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.