Airbnb (ABNB) To Report Earnings Tomorrow: Here Is What To Expect

Petr Huřťák /
2022/10/31 4:59 am EDT

Online accommodations platform Airbnb (NASDAQ: ABNB) will be reporting earnings tomorrow after market close. Here's what to look for.

Last quarter Airbnb reported revenues of $2.1 billion, up 57.5% year on year, in line with analyst expectations. Despite the stock dropping on the results, it was a very strong quarter for the company, with exceptional revenue growth and growing number of users. The company reported 103.7 million nights booked, up 24.7% year on year.

Is Airbnb buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Airbnb's revenue to grow 27.3% year on year to $2.84 billion, slowing down from the 66.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.55 per share.

Airbnb Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 8.86%.

Looking at Airbnb's peers in the consumer internet segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Snap delivered top-line growth of 5.71% year on year, missing analyst estimates by 0.91% and Pinterest reported revenues up 8.15% year on year, exceeding estimates by 2.68%. Snap traded down 21.5% on the results, and Pinterest was up 15.3%. Read our full analysis of Snap's results here and Pinterest's results here.

Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks up on average 1.7% over the last month. Airbnb is up 8.52% during the same time, and is heading into the earnings with analyst price target of $52.20, compared to share price of $138.6.

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The author has no position in any of the stocks mentioned.