- The stock price of Airbnb, Inc. (NASDAQ: ABNB) is trading at over 1.5% pre-market. This is why it happened.
The stock price of Airbnb, Inc. (NASDAQ: ABNB) is trading at over 1.5% pre-market as of 5:32 AM ET. Investors are responding to Airbnb topping revenue estimates. And this is Airbnb’s first earnings report since it went public in December.
For its fourth quarter, Airbnb reported revenue of $859 million compared to forecasts being under $750 million. However, the loss per share was $11.24 as the company posted a net loss of $3.89 billion for the fourth quarter. During the same period a year earlier, Airbnb had reported a loss of $352 million. Airbnb noted that much of the loss was due to charges related to the company IPO in December.
The revenue figure is down 22% year-over-year from $1.11 billion. And fourth-quarter revenue was down about 36% compared to $1.34 billion in the third quarter.
In terms of forecasting, Airbnb said that it is expecting that the year-over-year decline in the first quarter will be less than the decline the company saw in the fourth quarter. And Airbnb is expecting that the year-over-year comparisons for gross booking value and nights that booked in the first quarter are going to be higher than the same period a year earlier, but lower than Q1 2019.
Airbnb saw 46.3 million nights and experiences booked in Q4, down 39% year over year. This is down about 25% from the 61.8 million nights and experiences booked in Q3. The gross booking value was $5.9 billion, down 31% year over year. And gross booking value was down over 26% from $8 billion in the third quarter.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
