What's Going On With Airbnb Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Airbnb, Inc. (NASDAQ:ABNB) shares are trading lower after the company reported mixed second-quarter results and issued weak forward guidance. Revenue increased by 10.63% year-over-year, but earnings missed expectations. The company provided third-quarter revenue guidance below consensus estimates and expects a sequential moderation in growth. Several analysts have lowered their price targets for Airbnb following the earnings report.
August 07, 2024 | 5:39 pm
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Airbnb reported mixed Q2 results with a 10.63% YoY revenue increase but missed earnings expectations. The company issued weak Q3 revenue guidance and expects slower growth. Several analysts lowered their price targets.
The mixed Q2 results, weak Q3 guidance, and lowered price targets from multiple analysts are likely to negatively impact Airbnb's stock price in the short term. The market's reaction to the earnings miss and cautious outlook suggests a bearish sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100