Airbnb stocks fell on the prediction of weak earnings to come
0In its third quarter results announcement on Tuesday, Airbnb exceeded Wall Street's sales and profitability estimates; but, the home-sharing platform's prediction for the fourth quarter's revenue fell short of analyst expectations.
In trading after hours, shares of Airbnb fell by around 3.5% in response to the news.
Here are the company's profit outcomes in comparison to Bloomberg's predictions:
Adjusted Earnings Per Share (EPS): $1.79 actual versus $1.53 expected
Revenue: $2.88 actual billion versus $2.83 billion expected
Nights and Experiences Booked: 99.7 million versus 99.9 million expected
According to Airbnb, the third quarter of 2022 was its "most profitable quarter ever." However, the business stated that it anticipated fourth-quarter sales to range between $1.8 billion and $1.88 billion, with the lower end of this prediction falling short of analysts' projections of $1.86 billion.
Source: https://finance.yahoo.com/news/airbnb-misses-guidance-205850148.html
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