Following the release of its second-quarter earnings results, which fell short of analyst estimates, Airbnb warned that it is witnessing diminishing demand from U.S. customers, which caused its shares to collapse 14% in after-hours trade.
For the quarter that ended on June 30, the following is how the company performed in relation to LSEG estimates:
$0.86 earnings per share as opposed to the anticipated $0.92. Revenue: $2.74 billion as opposed to $2.75 billion as anticipated.
On a yearly basis, revenue rose by 11%. Compared to $650 million, or $0.98 per share, in the same period last year, Airbnb’s net income dropped to $555 million, or $0.86 per share.
Though it cautioned that it anticipated a slowdown in Nights and Experiences year-over-year growth in comparison to the current quarter, the business nevertheless predicted third-quarter revenue of $3.67 billion to $3.73 billion.
Source (CNBC)
