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Airbnb Shares Plunge 9% Despite Q2 Earnings Beat and In-Line Revenues

Stock Markets Aug 02, 2022 05:16PM ET
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© Reuters Airbnb Shares Plunge 9% Despite Q2 Earnings Beat and In Line Revenues

By Davit Kirakosyan

Airbnb Inc (NASDAQ:ABNB) shares plummeted more than 9% after-hours Tuesday despite the company’s reported Q2 results, with EPS of $0.56 beating the consensus estimate of $0.45.

Revenue grew 58% year-over-year (up 73% vs. Q2/19) to $2.1 billion, in line with the consensus estimate, driven by the combination of growth in Nights and Experiences Booked, and continued strength in ADR.

Nights and Experiences Booked grew 25% year-over-year to the largest quarterly number ever of 103.7 million, driven by North America, EMEA and Latin America. Gross Booking Value (GBV) grew 27% year-over-year (34% Y/Y (excluding FX) to $17 billion.

The company expects Q3/22 revenue in the range of $2.78-2.88 billion (up 24-29% year-over-year), compared to the consensus estimate of $2.77 expected. In Q3 2022, they expect Nights and Experienced Booked year-over-year growth to be stable with the year-over-year growth in Q2 2022.

The company announced its Board of Directors has approved a share repurchase authorization of $2 billion of its Class A common stock.

Airbnb Shares Plunge 9% Despite Q2 Earnings Beat and In-Line Revenues
 

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Comments (6)
Kevin Mould
Kevin Mould Aug 02, 2022 6:00PM ET
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p/e is over 80, probably a good company to invest in when the p/e drops to 20 so a 75% drop from here.
Nicholas in North Carolina
Nicholas in North Carolina Aug 02, 2022 6:00PM ET
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Forward PE is more like 40-50. Growth is 25. Someone/Somebody will buy it before it hits FV
Adrian Francalanza
Adrian Francalanza Aug 02, 2022 6:00PM ET
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It does not work that way. A highly growing company usally trades at around 50-70x P/E.
simon Truong
simon Truong Aug 02, 2022 5:30PM ET
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Why it down ???
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Ross Dre
Ross Dre Aug 02, 2022 5:30PM ET
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Maybe also because all stocks are still crazy overvalued…
Mario tragik
Mario tragik Aug 02, 2022 5:30PM ET
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because its a trap, sometimes big money likes to dump its shares to retail and earnings is a great opportunity to do so. classic earnings trap also depends on a lot of factors like future outlook, guidance etc.
Thomas Ho
ThomasH Aug 02, 2022 5:30PM ET
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Same reason why Amazon missed earnings and was up 12%
soho electronics
soho electronics Aug 02, 2022 5:30PM ET
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cause they want to buy back shares so they cause it to crash and they buy at cheaper price. simple
Vitalii De
Vitalii De Aug 02, 2022 5:30PM ET
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soho electronics  okay, then why paypal pumping? also buy back announced
Salman salman Salman salman
Salman salman Salman salman Aug 02, 2022 5:25PM ET
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salman $
Salman salman Salman salman
Salman salman Salman salman Aug 02, 2022 5:25PM ET
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salman $
Salman salman Salman salman
Salman salman Salman salman Aug 02, 2022 5:25PM ET
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salman
Jackson Rejent
Jackson Rejent Aug 02, 2022 5:24PM ET
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Good. *****. Bryan. Chesky.
 
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