Online accommodations platform Airbnb (NASDAQ: ABNB) will be reporting results tomorrow after market close. Here's what to expect.
Last quarter Airbnb reported revenues of $1.82 billion, up 20.5% year on year, beating analyst revenue expectations by 1.72%. It was a mixed quarter for the company, with strong growth in its user base but underwhelming revenue guidance for the next quarter. The company reported 121.1 million nights booked, up 18.6% 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 15% year on year to $2.42 billion, slowing down from the 57.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.81 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing six upwards revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.5%.
With Airbnb being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for consumer internet stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 9.47% over the last month. Airbnb is up 10.9% during the same time, and is heading into the earnings with analyst price target of $136.81, compared to share price of $145.
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The author has no position in any of the stocks mentioned.