Despite customers feeling the pinch of inflation in the second quarter, Airbnb stock ( NASDAQ:ABNB ) had an outstanding performance. Airbnb set multiple records in the second quarter , including booking 103 million nights and experiences, $2.1 billion in sales, and $379 million in net profitability.
These figures show incredible year-over-year (YOY) and year-over-three-year (YO3Y) increase compared to pre-pandemic travel.
To cap off a fantastic second quarter, all investors could have hoped for was guidance for the third quarter. Management anticipates the biggest quarterly revenue, with gross booking value increasing at a pace comparable to Q2. While they did not provide a net income forecast, they did say that the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin would be about 49%, which is the highest it has ever been.
It’s difficult to disagree with such counsel, yet the economy hasn’t improved since Airbnb issued it on August 2. However, experts predict that Airbnb’s revenue will be $2.84 billion, roughly at the midpoint of the company’s projections.
Airbnb Stock is trading at a reasonable price.
Airbnb stock ( NASDAQ:ABNB ) is still down roughly 50% from its all-time high, indicating that investors do not share management’s optimism. However, a large portion of this reduction is due to Airbnb’s value plummeting from absurdly high levels. Airbnb stock ( NASDAQ:ABNB ) used to trade at more than 20 times sales, which is unsustainable unless yo...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube