Airbnb (ABNB) reported adjusted earnings of 41 cents per share for first-quarter 2024, which jumped from 18 cents per share reported in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate by 78.3%.Revenues of $2.14 billion increased 18% on a reported basis, as well as on an FX-neutral basis, year over year. The top line also surpassed the Zacks Consensus Estimate by 3.7%.The year-over-year increase was driven by continued strength in travel demand and the timing of the Easter holiday. Co ...

In the late 1970s, Louis Navellier – then a college student, now a senior analyst at InvestorPlace – accidentally beat the market. By running financial data through a Wells Fargo mainframe computer (an enormous privilege at the time!), he came across a model that beat the S&P 500 by a considerable margin.Since then, he’s developed his system into Portfolio Grader, a quantitative stock-picking system that has trounced the market. It’s found picks like Oracle (NYSE:ORCL) at $6… Intel (NASDAQ:INTC) at under $1 ...

The S&P 500 Information Technology Sector Index lost ground intraday Thursday, edging 0.2% lower as of 11:15 a.m. ET. The broader S&P 500 was up 0.4%, while the tech-heavy Nasdaq gained 0.2%. Weaker-than-expected guidance sent shares of vacation rental site Airbnb (ABNB) lower, while shares of Equinix (EQIX) soared after the data center real estate investment trust (REIT) beat analysts' forcasts for earnings before interest, taxes, depreciation, and amortization (EBITDA). AppLovin shares were also higher a ...

Despite first-quarter earnings and revenue beats, Airbnb Inc (NASDAQ:ABNB) stock is down 6% to trade at $148.51 after the company issued a lackluster fiscal second-quarter outlook. An earlier-than-usual Easter holiday and currency exchange rates overshadowed strong demand for international travel.The results already drew four price-target cuts and two hikes, with Deutsche Bank adjusting lower to $148 from $158. Analysts are already bearish on ABNB, with 25 of 36 firms in coverage sporting a "hold" or worse ...

Key PointsAirbnb stock is plummeting by 8.5% after reporting first-quarter 2024 earnings, an opportunity for investors to squeeze.The business fundamentals grew, with free cash flow leading into a potential multi-bagger.Wall Street analysts and markets agree that Airbnb is a winner.5 stocks we like better than BookingFirst-quarter earnings are arguably the most important reports for any stock to release, as they set the tone for the rest of the year and give investors insight into their current—and potentia ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: The Airbnb app icon is seen on an iPad screen on May 8, 2021, in Washington. Airbnb reports earnings on Wednesday, April 8, 2024. Credit: AP Photo/Patrick Semansky, File Airbnb's profit more than doubled last quarter, but management's disappointing revenue forecast sparked a roughly 7% drop fort its stock in after-market trading ...

Key TakeawaysAirbnb shares moved lower in extended trading on Wednesday after the short-term accommodation company's current quarter guidance overshadowed quarterly results that topped Wall Street expectations.The company said its current-quarter results face “a significant sequential headwind” from the timing of Easter, an added leap-year day in the prior quarter, and the impact of foreign exchange fluctuations.Airbnb shares find a zone of support between $141 and $148 from the 200-day moving average and p ...

Airbnb’s first quarter results showed growth in listings and in nights booked.And per management commentary on the conference call, demand for international travel remains robust — enough so that the firm is looking ahead to a “record” summer season, tied to sporting events such as the Olympics.But stable growth, forecast by management for the current quarter, left investors unimpressed, at least after the bell Wednesday (May 8), and they sent the shares lower by 8% in after-market trading.CEO Brian Chesky ...

Wednesday, May 8th, 2024Markets were flat again this Hump Day. Over the past week or so of trading, the major indices have been treading water. For the past month, the Dow and the Nasdaq are marginally in the green, while the S&P 500 is marginally in the red and the small-cap Russell 2000 is -0.9%. For today’s session, the Dow scraped together +172 points, +0.44%, while the S&P was exactly 0.00%. The Nasdaq dipped a tad, -0.18%, while the Russell dropped -0.46%. For the Dow, it’s currently on the most tepid ...

Financial Data and Key Metrics - Revenue for Q1 2024 was $2.1 billion, up 18% year-over-year, driven by strong travel demand and the timing of Easter [8] - Net income was $264 million, with a net income margin of 12% [9] - Free cash flow for Q1 was $1.9 billion, the highest ever, and trailing 12-month free cash flow was $4.2 billion, representing a 41% free cash flow margin [9] - The company repurchased $750 million of shares in Q1, with $6 billion remaining on the repurchase authorization [9] Business Line Data and Key Metrics - Nights and experiences booked in Q1 reached 133 million, a 9.5% year-over-year increase, despite a tough comparison from the previous year [13] - Mobile app downloads in the U.S. increased by 60% year-over-year, and global nights booked via the app grew by 21%, now representing 54% of total bookings [13] - Active listings for accommodations grew by 17% year-over-year, excluding removals of low-quality listings [9][15] - Supply growth remained strong across all regions, with urban and non-urban supply increasing at similar rates [16] Market Data and Key Metrics - Nights booked in Paris for the summer Olympics are five times higher than a year ago, and Germany is seeing a similar trend for the Euro Cup, with nights booked nearly doubling [15] - The company saw over 500,000 guests stay during the North American solar eclipse, with nights booked along the eclipse path more than doubling compared to the previous year [14] - Supply in Paris increased by nearly 40% year-over-year to meet higher demand for the Olympics [15] Company Strategy and Industry Competition - The company is focused on three strategic initiatives: making hosting mainstream, perfecting the core service, and expanding beyond the core [9] - Airbnb removed thousands of low-quality listings in Q1 to improve guest experience, while active listings grew by 17% year-over-year [9][15] - The company launched "Icons," a new category of extraordinary experiences, which generated significant media coverage and social media impressions, helping to reposition the brand beyond just accommodations [11][12] - Airbnb is investing in less mature markets, where growth in nights booked is twice as fast as in core markets [10] Management Commentary on Operating Environment and Future Outlook - Management highlighted the stability and resilience of leisure travel demand, with lead times for bookings remaining stable compared to the previous year [25] - The company expects Q2 revenue growth to be flat due to the timing of Easter and one-time credits from the previous year, but remains optimistic about growth initiatives for the rest of the year [26][27] - Airbnb is focused on improving affordability and usability, with initiatives like total price display and monthly/weekly discounts driving value for consumers [30][31] Other Important Information - The company is leveraging AI to improve the hosting experience, including AI-powered quick replies for hosts and computer vision models to organize listing photos [50][51] - Airbnb is also experimenting with generative AI to enhance customer service, with plans to expand AI capabilities to search and the broader user experience [52] Q&A Session Summary Question: Expansion in Less Mature Markets - Airbnb is focusing on markets like Mexico, Brazil, Germany, Italy, Spain, Japan, Korea, and China, where penetration is lower but potential is high [19][20] - The company is also seeing traction in Switzerland and the Netherlands, with plans to expand further in Asia, including India [19] Question: U.S. App Download Growth - The 60% year-over-year increase in U.S. app downloads was driven by optimization efforts, including encouraging users to download the app at the right moment and improving the mobile website experience [21][22] Question: Q2 Growth and Margins - Q2 growth is expected to be flat due to the timing of Easter and one-time credits from the previous year, with marketing spend shifting slightly to Q2 [26][27] Question: ADRs and Supply Growth - Airbnb's ADRs are down 2% year-over-year, while hotel prices are up 3%, making Airbnb more affordable compared to hotels [32] - Supply growth is expected to continue outpacing demand, which will help maintain competitive pricing [34][35] Question: Search and Conversion Rates - Airbnb has made significant improvements to its search experience, including mobile app downloads, date flexibility, and filter enhancements, driving incremental growth [38][39] - The company is also focusing on improving listing quality, with initiatives like Guest Favorites and quality highlights [40][41] Question: Investment Priorities - Airbnb's investment priorities for 2024 include core business optimization, international expansion, and expanding beyond accommodations [45][46] - The company is also investing in AI to reduce friction in customer service and improve the overall user experience [50][51] Question: Icons and Experiences - Icons is seen as a strategic move to reposition Airbnb as more than just a travel accommodations platform, with plans to expand into everyday experiences [68][70] - The company is optimistic about the potential for Icons to drive traffic and increase brand awareness [71] Question: Olympics and Euro Cup Impact - Special events like the Olympics and Euro Cup are expected to drive significant supply growth and brand perception, with Paris seeing a 40% increase in active listings [72] Question: EBITDA Margin and Investment Levers - Airbnb is guiding for a 35%+ EBITDA margin for the full year, with flexibility to invest in marketing and product development to drive growth [75][76] Question: User Profiles and Community Features - The company is investing in enhancing user profiles and community features, with a focus on increasing trust and unlocking new opportunities for users [80][82] Question: Supply Quality and Host Behavior - Airbnb has removed low-quality listings and is using tools like the Compare Listing Tool to encourage hosts to improve their offerings [85][86] - The company is also providing warnings and education to hosts to improve the overall quality of listings [87] Question: Performance Marketing ROI - Airbnb has seen strong ROIs from performance marketing, driven by expanded target audiences, keyword coverage, and improved landing pages [90] Question: International Market Economics - Expanding into international markets with lower ADRs is expected to be accretive to the business, even if it lowers the global ADR [97] Question: Q3 Booking Backlog - The company has a strong backlog for Q3, giving confidence in revenue acceleration above Q2 levels [98]