Airbnb (ABNB) has reported better-than-expected second-quarter financial results even as the number of nights and experiences booked on its platform weakened during the period.
Airbnb announced earnings per share (EPS) of $0.98 U.S. compared to $0.78 U.S. a share expected on Wall Street, according to Refinitiv data.
Revenue in Q2 totaled $2.48 billion U.S. versus $2.42 billion U.S. that was expected by analysts who track the company and its stock.
Despite the earnings beat, Airbnb’s stock fell as much as 6% in extended trading before recovering after the home-rental company said bookings on its platform were less than had been expected in Q2.
The company said it had 115.1 million nights and experiences booked during Q2, up nearly 11% from a year earlier but less than the 117.6 million forecast on Wall Street.
Gross booking value per night came in at $166.01 U.S. during Q2, up only 1% from a year ago.
In terms of forward guidance, Airbnb said it expects $3.3 billion U.S. to $3.4 billion U.S. in current third-quarter revenue, or 14% to 18% growth.
Analysts were looking for $3.22 billion U.S. in Q3 sales. Management also said they see “modest” sequential growth in bookings for Q3.
Airbnb’s stock has gained 18% over the past 12 months to trade at $140.88 U.S. per share.
