[ad_1]
Published on: February 13, 2024 at 4:25 PM ET
Airbnb stock rebounded in volatile after-hours trading Tuesday after the company reported quarterly results that beat analysts’ revenue estimates and guidance.
Vacation rental company ABNB reported a fiscal fourth-quarter net loss of $349 million, or 55 cents per share. This compares to net income of $319 million, or 50 cents per share, in the year-ago period.
Airbnb…
Airbnb stock rebounded in volatile after-hours trading Tuesday after the company reported quarterly results that beat analysts’ revenue estimates and guidance.
Vacation rental real estate rental company
ABNB
reported a fiscal fourth quarter net loss of $349 million, or 55 cents per share. This compares to net income of $319 million, or 50 cents per share, in the year-ago period.
Airbnb’s revenue increased 17% to $2.22 billion from $1.9 billion in the same period last year.
Analysts polled by FactSet had expected adjusted earnings of 66 cents per share and revenue of $2.165 billion.
Airbnb has forecast first-quarter revenue of $2.03 billion to $2.07 billion, while FactSet analysts expect it to be $2.03 billion.
Immediately after the report was released, the stock price soared 17%, before quickly reversing and giving up its gains. Shares fell 4% in after-hours trading. In regular trading Tuesday, Airbnb fell nearly 2% to $150.82.
“Airbnb is at an inflection point,” the company said in a letter to shareholders announcing its results Tuesday. “We have spent the past three years perfecting our core services, and now we are ready to embark on the next chapter.”
Airbnb stock is up 25% over the past year, while the broader S&P 500 index SPX is up 20%.
[ad_2]
Source link
