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Home»Latest Posts»Airbnb (ABNB) Q3 earnings report
Latest Posts

Airbnb (ABNB) Q3 earnings report

Rudra SharmaBy Rudra SharmaUpdated:No Comments2 Mins Read
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Airbnb (ABNB) Q3 earnings report
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Brian Chesky, co-founder and CEO of Airbnb, speaks throughout an interview with CNBC on the ground of the New York Inventory Trade, Could 10, 2023.

Brendan McDermid | Reuters

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Airbnb shares slipped greater than 3% in after-hours buying and selling Wednesday after the corporate reported stronger than anticipated income, buoyed by forex tailwinds, however supplied weaker-than-expected steering for the upcoming fiscal quarter.

This is how the corporate did:

  • Earnings: $6.63 per share. That will not be akin to the $2.10 anticipated by analysts based on LSEG, previously often called Refinitiv
  • Income: $3.40 billion, vs. $3.37 billion anticipated.

Web revenue for the quarter, together with a one-time revenue tax profit, was $4.37 billion. Excluding that one-time profit, the corporate reported quarterly web revenue of $1.61 billion in comparison with $1.21 billion within the year-ago quarter.

Income grew 18% year-over-year, the corporate mentioned. Whole nights and experiences bookings got here in at 113.2 million for the quarter, greater than the 99.7 million it reported within the year-ago quarter and beating a StreetAccount consensus estimate of 112.9 million.

The corporate guided to $2.13 billion to $2.17 billion in fourth-quarter income, representing year-over-year development starting from 12% to 14%. That was lower than the $2.18 billion that analysts polled by LSEG had been anticipating.

“We’re seeing higher volatility early in This fall, and are intently monitoring macroeconomic tendencies and geopolitical conflicts that will influence journey demand,” the corporate mentioned in its letter to shareholders.

Airbnb additionally reported adjusted EBITDA of $1.83 billion, rising 26% year-over-year, and free money move of $1.31 billion, or 37% greater than the $958 million it reported within the year-ago interval.

The corporate additionally supplied updates on its efforts to decrease the price of Airbnb stays for customers. “Whereas costs are rising industry-wide, the typical nightly value of a one-bedroom itemizing on Airbnb in September was $120, just one% larger than it was within the prior 12 months interval,” the corporate mentioned in its letter to shareholders.

The corporate additionally mentioned it might be taking steps to reinforce itemizing verifications later within the 12 months within the U.S. and 4 different nations.

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Techcrowder is an imprint of Authority Media dedicated to consumer electronics and digital services. Beyond our expertise in mobile tech, our coverage has expanded to include everything from robot vacuums to streaming services to innovations in artificial intelligence.

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