Airbnb (ABNB) late Wednesday reported first-quarter earnings and sales that exceeded expectations. But shares of Airbnb fell as the short-term rental company gave lower-than-expected revenue guidance in the current quarter
X
In results released after the stock market close, Airbnb said it earned 41 cents per share on revenue of $2.14 billion for the quarter ended in March. According to FactSet, analysts on average forecast that the San Francisco-based company would earn 23 cents per share on revenue of $2.06 billion.
For the same period a year earlier, Airbnb posted adjusted earnings of 18 cents per share on revenue of $1.82 billion. Sales increased by 18% year on year.
For the current quarter, Airbnb expected revenue of $2.71 billion, halfway through the given range. Analysts projected Airbnb would amount to $2.74 billion in revenue for the quarter ending in June, according to FactSet.
In its shareholder letter, Airbnb said the second quarter faces significant “sequential headwinds” after the timing of the Easter holiday and Leap Day boosted first-quarter results.
In today’s stock market, shares of Airbnb are down more than 7% to 146.20 during the recent after-hours action.
There will be more revenue coverage.
Airbnb stock: technical reviews
Ahead of earnings reports, shares of Airbnb fell 1.2% on Wednesday trade. Shares are up 16% this year, compared to an 8.8% gain for the S&P 500. Additionally, Airbnb shares are up 32% over the past twelve months, outpacing a 25% gain for the S&P 500 .
According to IBD Stock Checkup, Airbnb stock in the report had an IBD Composite Rating of 88 out of a best possible 99. The score combines five separate proprietary ratings into one rating. The best growth stocks have a composite rating of 90 or higher.
Furthermore, Airbnb’s IBD Relative Strength Rating was 82 from 99.
Ahead of the earnings report, Airbnb shares were trading below a 170.10 buy point on a 32-day consolidation pattern, according to MarketSmith.
YOU MAY ALSO LIKE:
Nvidia led the first wave of AI stocks. These data players focus on the following.
Is Amazon Stock a Purchase?
IBD Live: Learn and analyze growth stocks with the pros
Get timely buy and sell alerts with the IBD Leaderboard
Top Growth Stocks to Buy and Watch
