Apptopia

$DAL was strong today, but travel was weak in March thanks to $BKNG and $EXPE. See our mobile macro for March. Big swing negative: 14 of 20 sectors are down YoY compared to only 8 of 20 in February. App data is consumer data, so this is not a good sign.

$SPOT is making news by raising prices. Honestly, this makes a lot of sense and I'm not surprised. For such a huge company, their FCF is not great. What does look positive is the YoY growth in 1Q24. It looks like it ticked up slightly from 4Q23, which is better than consensus.

An off-day from trading allows for extra thoughts on $ABNB. App data was very strong YoY in Dec and Jan, coinciding with strong stock price. But how did it miss the room nights decel?

$COIN and $HOOD revenue beat surprises not a surprise if you had mobile activity (or follow my account)