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Airbnb’s (ABNB) Breakout Quarter Reopens Its Growth Story
['Maham Fatima', 'Mon', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
Airbnb (NASDAQ:ABNB) shares surged 17.4% on August 7, closing at their highest price in more than four years.
Revenue climbed 17% year over year to $3.6 billion, gross booking value rose 16% to $27.2 billion, and adjusted EBITDA jumped 21% to $1.3 billion.
It was the kind of quarter that finally shifted the narrative around a stock that had spent years going nowhere.
Airbnb's (ABNB) Breakout Quarter Reopens Its Growth StoryBull Case: A Platform Firing On More Cylinders Than BeforeNights and seats booked rose 10% to 148.3 million, an acceleration from the first quarter, while GAAP EPS jumped from $1.03 to $1.37, well past the $1.22 analysts expected.
Management didn't just clear the bar; it raised it for the rest of the year, guiding to at least mid-teens full-year revenue growth and an adjusted EBITDA margin of at least 35.5%, with third quarter revenue seen between $4.69 billion and $4.77 billion.