• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Airbnb Reports The Strongest Quarter Ever For Revenue Growth, Issues Weak Fourth Quarter Guidance

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
November 3, 2022
in Uncategorised
Share on FacebookShare on Twitter

Shares of vacation rental company Airbnb dropped more than 13 percent on Wednesday after the company reported its strong quarterly results and weak fourth-quarter guidance. 

The company reported third-quarter revenue of $2.9 billion. Revenue was up 29 percent year over year and was the company’s strongest quarter ever. Analysts had expected revenue to come in at $2.8 billion, according to Refinitiv. Airbnb, therefore, surpassed analysts’ estimates for third-quarter revenue. The company said that revenue growth was driven by stable growth in the Nights and Experiences booked by customers and increased average daily rates. 

The company’s impressive third-quarter results, however, came with weak guidance. The company said it expects revenue to come in the range of $1.80 billion and $1.88 billion in the fourth quarter. The midpoint of its range is below analysts’ estimate of $1.85 billion, according to Refinitiv. 

The company said that it expects “a continued, albeit choppy, recovery of cross-border travel to be a further tailwind to future results” as various countries around the world continue to recover from Covid lockdowns and deal with high levels of inflation and rising interest rates.

The company also highlighted the strong dollar. It cautioned that the strong dollar will reduce its international average daily rate. According to analysts at Evercore ISI, this was the “key negative” in Airbnb’s report. According to a Tuesday note, Evercore ISI maintained its outperform rating on the stock but removed Airbnb from their TAP Outperform list. “All in, we thought fundamental trends were resilient,” the analysts said.

Airbnb saw huge benefits from the boom in travel demand, as countries around the world continue to ease their lockdown and travel policies. In its release, the company said that the amount of new hosts on its platform has also increased. 

Related Posts:

  • Nairabot 1
    Airbnb Reports Impressive Second Quarter Results
  • lenovo-yoga-book-feature-awesome-specs-android
    Apple Reports Impressive Fiscal Third Quarter…
  • Salesforce Reports Impressive Quarterly Results Alongside Weak Guidance For The Current Quarter And The Fiscal Full Year
    Salesforce Reports Impressive Quarterly Results…
  • Zoom Issues Better-than-expected First Quarter…
  • Snowflake_Booth_WC_0294e9a31a
    Snowflake Reports Impressive Third Quarter, Shares…
  • Cisco Reports Fiscal Fourth Quarter Earnings Results, Issues Better-than-expected Guidance For Its Full 2023 Fiscal Year
    Cisco Reports Fiscal Fourth Quarter Earnings…
  • Analysts Say Lyft Is Losing Market Share To Uber After The Company Issued Its Third Quarter Earnings Results And Weak Guidance For The Ongoing Quarter
    Analysts Say Lyft Is Losing Market Share To Uber…
  • salesforce-sign-4
    Salesforce Reports Better-than-expected Earnings…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3 May 11, 2025
    • Google’s Antitrust Showdown, AI vs. Search, and other Headlines May 11, 2025
    • Huawei Officially Launches HarmonyOS for PC May 10, 2025
    • Canada Nears Launch of Instant Payment Technology May 10, 2025
    • Threads Adds Dashboard for Post & Account Limits May 10, 2025
    • Many X Users are Experiencing Timeline Update Issues May 10, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (497) android (367) app (717) Apple (577) artificial intelligence (419) business (482) china (132) cryptocurrency (210) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (710) government (469) instagram (173) internet (467) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (836) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3

    May 11, 2025
    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    May 11, 2025
    Huawei Officially Launches HarmonyOS for PC

    Huawei Officially Launches HarmonyOS for PC

    May 10, 2025
    Canada Nears Launch of Instant Payment Technology

    Canada Nears Launch of Instant Payment Technology

    May 10, 2025
    Advertisement Coming to Threads from Next Year

    Threads Adds Dashboard for Post & Account Limits

    May 10, 2025
    Many X Users are Experiencing Timeline Update Issues

    Many X Users are Experiencing Timeline Update Issues

    May 10, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok