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HomeBusinessAirbnb Offers Optimistic Outlook Amid Mixed Q3 Results, Shares Drop 4 percent

Airbnb Offers Optimistic Outlook Amid Mixed Q3 Results, Shares Drop 4 percent

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Airbnb (NASDAQ:ABNB) presented an optimistic forecast for the fourth quarter, though its third-quarter results came in mixed, with earnings narrowly missing expectations. Shares of the vacation rental giant fell more than 4% in after-hours trading, reversing an earlier rally sparked by the report.
The company reported earnings per share of $2.13, just below Wall Street’s expectation of $2.14, on revenue of $3.73 billion, slightly surpassing the consensus of $3.72 billion. Bookings for Nights and Experiences rose by 8% year-over-year, as demand continued to expand across all regions. The average daily rate increased by 1% to $164, compared to the same quarter last year.
For the fourth quarter, Airbnb projected revenue between $2.39 billion and $2.44 billion, closely aligning with Wall Street’s estimate of $2.42 billion. The company also noted that its take rate for Q4 2024 would likely be slightly lower year-over-year due to a one-time boost from unused gift cards in Q4 2023.

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