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Airbnb increases earnings per share threefold in the third quarter of 2023, exceeding expert forecasts.
For the vacation rental platform Airbnb, the third quarter of 2023 ended with profit growth. Earnings per share rose to $6.63, compared to $1.79 in the year-ago period. This exceeded the expectations of experts, who had forecast earnings of an average of $2.11 per share. Airbnb's sales in the last quarter were $3.4 billion, while analysts had expected sales of $3.37 billion. This represents growth compared to the same period last year, where sales were $2.88 billion. Airbnb assumes that the travel boom will weaken after the corona pandemic and therefore expects a weaker ...
Airbnb increases earnings per share threefold in the third quarter of 2023, exceeding expert forecasts.
For the vacation rental platform Airbnb, the third quarter of 2023 ended with profit growth. Earnings per share rose to $6.63, compared to $1.79 in the year-ago period. This exceeded the expectations of experts, who had forecast earnings of an average of $2.11 per share. Airbnb's sales in the last quarter were $3.4 billion, while analysts had expected sales of $3.37 billion. This represents growth compared to the same period last year, where sales were $2.88 billion.
Airbnb assumes that the travel boom will weaken after the corona pandemic and therefore expects weaker growth in the number of overnight stays in the current quarter. Revenue guidance for the quarter is $2.13 billion to $2.17 billion, falling short of analyst expectations. Airbnb attributes this to the economic situation and geopolitical conflicts that could influence travel behavior.
Last quarter, Airbnb reported an 18 percent year-over-year increase in revenue to $3.4 billion. Profit rose to $4.4 billion from $1.2 billion, with a $2.8 billion tax credit being the biggest contributor.
Airbnb shares temporarily slipped by 2.70 percent to $116.25 on the NASDAQ on Thursday.
Airbnb's latest quarterly results show that the company delivered solid financial performance despite the challenges posed by the COVID-19 pandemic. Earnings per share beat analysts' expectations and sales rose year-over-year. However, weaker expected growth in room nights and revenue guidance for the current quarter could indicate potential problems. The economic situation and geopolitical conflicts could continue to influence travel behavior and therefore also affect Airbnb.
It is important to monitor the evolution of the travel industry and the impact of current global events on the market to better assess the future performance of Airbnb and other companies in the industry.
Source: According to a report by www.finanzen.net
Read the source article at www.finanzen.net