Airbnb Stock Falls Despite Earnings That Topped Estimates. Here's Why.

Airbnb posted better-than-expected third-quarter financial results, but provided fourth-quarter guidance that fell a little below Street estimates. The results provide an early look at the state of the travel industry, ahead of coming reports from Expedia, Booking.com and other players.

For the quarter, Airbnb posted revenue of $3.4 billion, up 18% from a year ago, and ahead of the Street consensus forecast as tracked by FactSet at $3.34 billion.

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