Airbnb misses on earnings but squeaks in a revenue beat
Airbnb reported third-quarter earnings Thursday that showed revenue up 10% year over year.
Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. The stock fell about 3% in after-hours trading.
Here's how the company did:
Earnings per share: $2.13 vs. $2.14 expected by LSEG
Revenue: $3.73 billion vs. $3.72 billion expected by LSEG
Revenue increased 10% from $3.4 billion a year earlier. Airbnb reported net income of $1.37 billion, or $2.13 per share, compared with $4.37 billion, or $6.63 per share, in the same period last year. The company noted a $2.8 billion tax benefit during the third quarter of 2023.
The company expects to report revenue between $2.39 billion and $2.44 billion during its fourth quarter. Analysts were expecting $2.42 billion for the period, according to LSEG.
In a letter to shareholders, Airbnb said it is focused on expanding beyond its core markets and into under-penetrated markets around the globe. The average growth rate of nights booked in Airbnb's expansion markets was double that of its core markets
Article