Airbnb beats third-quarter estimates as travel demand accelerates; stock surges
Investing.com · Jaiveer Shekhawat ·
Airbnb beats third-quarter estimates as travel demand accelerates; stock surges
Investing.com -- Airbnb posted stronger-than-expected third-quarter earnings and revenue on Thursday, as resilient travel demand, higher booking volumes and improved pricing helped the home-sharing platform deliver its fastest revenue growth in more than three years.
The company’s shares surged more than 11% at the open on Friday.
The company reported diluted earnings per share of $3.16, beating analyst estimates of $2.85 by 31 cents. Revenue rose 19% year-over-year to $4.87 billion, surpassing the consensus estimate of $4.75 billion. Revenue growth accelerated from 10% in the year-earlier quarter, reflecting stronger performance across established and expansion markets.
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