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Airbnb Reports Record Q3 But Shares Down 5% on Weak Outlook By Investing.com

© Reuters Airbnb Reports Record Q3 But Shares Down 5% on Weak Outlook
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By Davit Kirakosyan

Airbnb Inc (NASDAQ:) shares dropped nearly 5% after-hours following the company’s reported . While EPS of $1.79 and revenue of $2.88 billion came in better than the consensus estimates of $1.44 and $2.84 billion, respectively, the midpoint of Q4 guidance missed the expectations.

Revenue increased 29% year-over-year (or 36% ex-FX) driven by the combination of growth in Nights and Experiences Booked and continued strength in ADR (Average Daily Rates).

In Q3, the company had 99.7 million Nights and Experiences Booked, which represents a 25% year-over-year growth. Gross Booking Value grew 31% year-over-year (or 40% ex-FX) to $15.6 billion.

The company expects Q4/22 revenue to be in the range of $1.8-1.88 billion, compared to the consensus of $1.85 billion. On a year-over-year basis, the company expects Nights and Experiences Booked growth to moderate slightly relative to Q3, while ADR to face some pressure from FX headwinds and business mix.

Story Credit: investing.com

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