Cash-back rewards platform Ibotta (NYSE: IBTA) will be reporting earnings tomorrow afternoon. Here’s what you need to know.
Ibotta missed analysts’ revenue expectations by 5.1% last quarter, reporting revenues of $98.38 million, flat year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and revenue guidance for next quarter meeting analysts’ expectations. It reported 94.55 million total redemptions, flat year on year.
Is Ibotta a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ibotta’s revenue to be flat year on year at $82.06 million, slowing from the 42.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.39 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ibotta has only missed Wall Street’s revenue estimates once since going public and has exceeded top-line expectations by 0.6% on average.
Looking at Ibotta’s peers in the advertising & marketing services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Liberty Broadband delivered year-on-year revenue growth of 8.6%, beating analysts’ expectations by 7.2%, and Interpublic Group reported a revenue decline of 8.5%, in line with consensus estimates. Liberty Broadband’s stock price was unchanged after the resultswhile Interpublic Group was up 2.7%.
Read our full analysis of Liberty Broadband’s results here and Interpublic Group’s results here.
There has been positive sentiment among investors in the advertising & marketing services segment, with share prices up 12.6% on average over the last month. Ibotta is up 13.3% during the same time and is heading into earnings with an average analyst price target of $51.25 (compared to the current share price of $52.25).
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