Airbnb reported second-quarter outcomes on Wednesday that beat analysts’ expectations.
Here is how the corporate did based mostly on common analysts’ estimates compiled by LSEG:
- Earnings per share: $1.03 vs. 93 cents anticipated
- Income: $3.10 billion vs. $3.04 billion anticipated
Income elevated 13% from $2.75 billion throughout the identical interval final yr. The corporate reported web revenue of $642 million, or $1.03 per share, up from $555 million, or 86 cents per share, a yr earlier.
Within the third quarter, Airbnb expects to report income of $4.02 billion to $4.10 billion, or $4.06 billion in the midst of the vary. Analysts had been anticipating $4.05 billion for the interval, in keeping with LSEG.
In a letter to shareholders, the corporate mentioned it had a powerful second quarter, even towards a unstable macroeconomic backdrop. U.S. President Donald Trump’s sweeping tariff and commerce insurance policies plunged markets into chaos for a lot of April.
“Regardless of international financial uncertainty early within the quarter, journey demand picked up, and nights booked on Airbnb accelerated from April to July,” the corporate mentioned.
Airbnb reported 134.4 million nights and seats booked, up 7% from a yr in the past and above the 133.35 million anticipated by StreetAccount.
Gross reserving worth, which Airbnb makes use of to report host earnings, service charges, cleansing charges and taxes, totaled $23.5 billion within the second quarter. That determine is above the $22.66 billion anticipated by analysts polled by StreetAccount.
Airbnb mentioned it acquired authorization for a brand new share repurchase program of as much as a further $6 billion of Class A standard inventory. The corporate mentioned it repurchased $1 billion of Class A standard inventory throughout the second quarter, and beforehand had authorization to buy $1.5 billion extra as of June 30.
Airbnb shares had been down barely in prolonged buying and selling. They’ve slipped 0.7% for the yr as of Wednesday’s shut, whereas the Nasdaq is up virtually 10%.
Airbnb will maintain its quarterly name with traders at 4:30 p.m. ET.
