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Airbnb Inc (Nasdaq: ABNB) is trading up in extended hours after reporting market-beating revenue for its fourth financial quarter.
Why else is Airbnb stock up in after-hours?
The stock is being rewarded also on encouraging guidance for the future. Airbnb now forecasts its revenue to fall between $2.03 billion and $2.07 billion in its current fiscal quarter.
Analysts, in comparison, were at $2.03 billion. Brian Chesky – the chief executive of Airbnb said in a letter to shareholders today:
Airbnb is at an inflection point. To unlock more opportunities for growth, we’re investing in under-penetrated international markets, and we’re seeing great results.
He did confirm the Israel-Hamas war affected business in October but said guest demand remained strong otherwise. In fact, $ABNB that recently bought Gameplanner.AI (read more) noted “double-digit supply growth across all regions” in Q4.
Notable figures in Airbnb Q4 earnings release
- Lost $349 million that translates to 55 cents per share
- Had $319 million in net income last year (48 cents a share)
- Adjusted earnings printed at $738 million as per the earnings report
- Revenue jumped 17% year-over-year to $2.22 billion
- Consensus was $645 million earnings on $2.17 billion revenue
- Average daily rates climbed 3.0% to $157 in the fourth quarter
- Ended the year with 7.7 million active listings – up 18% YoY
ABNB saw a better-than-expected 12% annualised increase in nights and experiences booked to 98.8 million while gross booking value popped 15% to $15.5 billion in Q4. CEO Chesky also said on Tuesday:
We believe now is the time to expand beyond our core business and reinvent Airbnb. While this will be a gradual, multi-year journey, we’re excited to share more about this later in 2024.
GROWTH: London airports are said to be cashing in on continued strong travel demand - with Stansted having seen nearly 2 Million customers in January, a 6.9% increase on 2023.
— Gully Foyle #UKTrade (@TerraOrBust) February 13, 2024
Luton meanwhile is expecting over 500k passengers over half term.#UKGoodNewshttps://t.co/CcgiloczMB
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