Airbnb reported second-quarter outcomes on Wednesday that beat analysts’ expectations.
Here’s how the corporate did based mostly on common analysts’ estimates compiled by LSEG:
- Earnings per share: $1.03 vs. 93 cents anticipated
- Revenue: $3.10 billion vs. $3.04 billion anticipated
Revenue elevated 13% from $2.75 billion throughout the identical interval final 12 months. The firm reported web earnings of $642 million, or $1.03 per share, up from $555 million, or 86 cents per share, a 12 months earlier.
In the third quarter, Airbnb expects to report income of $4.02 billion to $4.10 billion, or $4.06 billion in the course of the vary. Analysts had been anticipating $4.05 billion for the interval, in keeping with LSEG.
In a letter to shareholders, the corporate mentioned it had a robust second quarter, even in opposition to a risky macroeconomic backdrop. U.S. President Donald Trump’s sweeping tariff and commerce insurance policies plunged markets into chaos for a lot of April.
“Despite global economic uncertainty early in the quarter, travel demand picked up, and nights booked on Airbnb accelerated from April to July,” the corporate mentioned.
Airbnb reported 134.4 million nights and seats booked, up 7% from a 12 months in the past and above the 133.35 million anticipated by StreetAccount.
Gross reserving worth, which Airbnb makes use of to report host earnings, service charges, cleansing charges and taxes, totaled $23.5 billion within the second quarter. That determine is above the $22.66 billion anticipated by analysts polled by StreetAccount.
Airbnb mentioned it acquired authorization for a brand new share repurchase program of as much as a further $6 billion of Class A standard inventory. The firm mentioned it repurchased $1 billion of Class A standard inventory throughout the second quarter, and beforehand had authorization to buy $1.5 billion extra as of June 30.
Airbnb shares dropped 6% in trade buying and selling. They’ve slipped 0.7% for the 12 months as of Wednesday’s shut, whereas the Nasdaq is up nearly 10%.
