Airbnb (ABNB) reported its Q1 2023 earnings after the bell, reporting a minor beat on income and a miss on bookings.
The corporate’s shares declined about 8% in after-hours buying and selling, and Airbnb additionally introduced a brand new $2.5 billion inventory buyback.
Listed here are the notable numbers from the corporate’s earnings report, as in comparison with Wall Avenue’s expectations as compiled by Bloomberg:
Income: $1.8 billion precise versus $1.79 billion estimated
EPS: 18 cents precise versus 12 cents estimated
Nights and Experiences Booked: $121.1 million precise versus $122.4 million estimated
Q2 Income Steering: $2.35-$2.45 billion precise versus $2.42 billion estimated
To elucidate the nights and experiences bookings miss, the corporate’s shareholder letter stated: “Nights and Experiences Booked grew 19% in Q1 2023 in comparison with a yr in the past. Even with continued macroeconomic uncertainties, we’ve got seen our highest variety of lively bookers, demonstrating each loyalty from our returning company and a rising base of first-time bookers. Our present backlog of nights is roughly 25% stronger than a yr in the past.
The strain was on for Airbnb this cycle – different journey names like Expedia (EXPE) and Reserving Holdings (BKNG) reported stable outcomes final week.
That is breaking information, extra to return.
Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. Comply with her on Twitter at @agarfinks and on LinkedIn.
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