Airbnb stock falls sharply despite earnings beat, plan to repurchase $2 billion in stock

Airbnb Inc. said Tuesday that it had its first profitable second quarter as a public company, and that it is so confident in its business that it is buying back $2 billion of its stock.

The lodging-booking company reported second-quarter net income of $379 million, or 56 cents a share, compared with a loss of $68 million, or 11 cents a share, in the year-ago period. Revenue rose to $2.19 billion from $1.34 billion in the year-ago quarter.Airbnb said demand for travel is strong almost everywhere. The company’s gross bookings amounted to $17 billion, up 27% year over year and 73% higher compared with the pre-pandemic 2019 quarter. Customers booked 103.

Airbnb expects third-quarter revenue of $2.78 billion to $2.88 billion, which it says it expects to be its highest yet. It also expects adjusted Ebitda to be its highest yet, though it did not provide a number. Analysts on average had forecast earnings of $1.29 a share on revenue of $2.77 billion, and adjusted Ebitda of $1.26 billion, according to FactSet.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Stephen King Set to Testify for Government In $2.2B Books Merger TrialThe famed author has been a vocal opponent of the proposed union of publishing giants Penguin Random House and Simon & Schuster. It’s like a jury duty you can’t escape StephenKing Hope he loses
출처: THR - 🏆 411. / 53 더 많은 것을 읽으십시오 »

Stocks Making the Biggest Moves After Hours: PayPal, Airbnb, MatchGroup, Caesars and MoreThese are the stocks posting the largest moves in extended trading.
출처: nbcchicago - 🏆 545. / 51 더 많은 것을 읽으십시오 »