Airbnb upbeat on outlook after mixed Q3 results
Investing.com — Airbnb struck an upbeat tone on guidance Thursday, but reported mixed third-quarter results as earnings fell short of estimates.
Airbnb Inc (NASDAQ:ABNB) shares fell 1.7% in recent aftermarket hours trading Thursday, reversing an initial strong rally following the report.
The company reported EPS of $2.13 on revenue of $3.73 billion, compared with Wall Street estimates for EPS of $2.14 on revenue of $3.72B
Nights and Experiences booked increased 8% compared to the prior year, driven by continued growth in all regions.
Average daily rate was $164 in Q3 2024, increasing 1% compared to Q3 2023.
Looking ahead to Q4, the company guided revenue in a range of $2.39B to $2.44B, compared with Wall Street estimates for $2.42B.
“We anticipate that our implied take rate in Q4 2024 will be slightly lower on a year-over-year basis, primarily due to one-time benefits recognized from unused gift cards in Q4 2023,” the company said.
