Brian Chesky, CEO of Airbnb talking on CNBC’s Squawkbox on May 4th, 2023.
CNBC
Shares of Airbnb fell as a lot as 10% in prolonged buying and selling Tuesday regardless of first-quarter earnings that beat analyst estimates on prime and backside line, because it provided barely weaker-than-expected steerage and a cautious outlook for Q2.
Here’s how the corporate did:
- EPS: 18 cents vs. 9 cents anticipated by analysts, in line with Refinitiv.
- Revenue: $1.82 billion vs. $1.79 billion anticipated by analysts, in line with Refinitiv.
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Revenue for the fourth quarter was up 20% 12 months over 12 months. Airbnb reported $117 million in internet earnings for the quarter, up from a internet lack of $19 million a 12 months earlier. The determine marks the primary time Airbnb has been worthwhile throughout its first quarter on a GAAP foundation.
In its shareholder letter, Airbnb mentioned it had a “strong start” to the 12 months, and it’s wanting ahead to a different “strong summer travel season.” However, it warned of robust comparables for the second quarter: “Nights and Experiences Booked will have unfavorable year-over-year comparisons in Q2 2023 as we overlap pent-up 2022 demand following the COVID Omicron variant.”
The firm mentioned income in its second quarter can be between $2.35 billion and $2.45 billion. Analysts polled by Refinitiv anticipated $2.42 billion.
Average every day charges have been flat in comparison with a 12 months in the past at $168 within the first quarter, and the corporate mentioned lively listings within the first quarter elevated 18% 12 months over 12 months.
Gross reserving worth, which Airbnb makes use of to trace host earnings, service charges, cleansing charges and taxes, totaled $20.4 billion within the first quarter. The firm reported 121.1 million nights and experiences booked within the first quarter, up 19% 12 months over 12 months, in step with estimates by analysts, in line with StreetAccount.
Airbnb mentioned within the investor letter that it intends to remain centered on three “strategic priorities.” The firm mentioned it’s working to make internet hosting on the platform simply as widespread as journey, present inexpensive stays for friends and enhance its presence in “less mature” worldwide markets.
Airbnb mentioned within the investor letter that vacationers are returning to main cities, and they’re additionally reserving longer stays.
Airbnb will maintain its quarterly name with buyers Tuesday at 4:30 p.m. ET.
Source: www.cnbc.com”
