Airbnb shares plunge 9% despite second-quarter earnings and online revenue

August 2, 2022 5:09 p.m. EDT

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Shares of Airbnb (NASDAQ: ABNB) fell more than 9% after hours on Tuesday despite the company’s second quarter results, with EPS of $0.56 beating the consensus estimate of 0, $45.

Revenue increased 58% year-over-year (up 73% from Q2/19) to $2.1 billion, in line with the consensus estimate, driven by the combination of growth in overnight stays and experiences booked and the continued strength of ADR.

The number of room nights and experiences booked increased 25% year-over-year to the highest quarterly number ever at 103.7 million, driven by North America, EMEA and the United States. ‘Latin America. Gross booking value (GBV) increased 27% year-over-year (34% year-over-year (excluding currency) to $17 billion.

The company expects Q3/22 revenue in the range of $2.78-2.88 billion (up 24-29% year-over-year), versus at the expected consensus estimate of $2.77. In Q3 2022, they expect year-over-year growth in experienced room nights and bookings to be flat with year-over-year growth in Q2 2022.

The company announced that its board of directors had approved a stock repurchase authorization of $2 billion of its Class A common stock.

By Davit Kirakosian

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