Airbnb's stock falls despite revenue beat, positive guidance
By Jon Swartz
Airbnb Inc.'s stock fell in volatile extended trading Tuesday following quarterly results that eclipsed analysts' revenue estimates and guidance.
The vacation-property rentals company (ABNB) reported a fiscal fourth-quarter net loss of $349 million, or 55 cents a share, compared with net income of $319 million, or 50 cents a share, in the same quarter a year ago.
Airbnb's sales climbed 17% to $2.22 billion from $1.9 billion in the year-ago quarter.
Analysts polled by FactSet had expected on average adjusted earnings of 66 cents a share on revenue of $2.165 billion.
Airbnb provided first-quarter sales guidance of $2.03 billion to $2.07 billion, while FactSet analysts are forecasting $2.03 billion.
After spiking 17% immediately after the report was released, shares quickly turned tail and gave up those gains; the stock ended after-hours trading down 4%. In regular trading Tuesday, Airbnb declined nearly 2% to $150.82.
"Airbnb is at an inflection point," the company said in a letter to shareholders Tuesday, announcing the results. "We spent the past three years perfecting our core service, and now we're ready to embark on our next chapter."
Shares of Airbnb are up 25% over this past year, while the broader S&P 500 index SPX has advanced 20%.
-Jon Swartz
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
02-13-24 2009ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
The Best Technology Stocks to Buy
-
After Earnings, Is Coke Stock a Buy, a Sell, or Fairly Valued?
-
Disney Earnings: Improved Streaming Results Come at the Expense of Continued Linear Weakness
-
Apple: We Expect New Models and New Chip to Spur Return to iPad Growth
-
Palantir Earnings: AI Platform Drives Strong Start to 2024
-
What I Hope My 14-Year-Old Learned at Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks