** charts after earnings **
Airbnb beats by $0.29, beats on revs; guides Q4 revs in-line, expects Nights and Experiences Booked growth to moderate slightly qtr/qtr
- Reports Q3 (Sep) GAAP earnings of $1.79 per share, $0.29 better than the S&P Capital IQ Consensus of $1.50; revenues rose 28.9% year/year to $2.88 bln vs the $2.85 bln S&P Capital IQ Consensus.
- Nearly 100 mln Nights and Experiences Booked, up 25% yr/yr.
- Gross Booking Value up 31% yr/yr to $15.6 bln.
- Adjusted EBITDA increased 32% yr/yr to $1.5 bln.
- Co commented that guest demand remained strong; new use cases, including long-term stays and non-urban travel, are here to stay; recovery of urban and cross-border travel continues.
- Secondly, there is strong growth in the number of new Hosts.
- Also, guests continued to stay longer, comprising 20% of total gross nights booked in Q3.
- Co issues in-line guidance for Q4, sees Q4 revs of $1.80-1.88 bln vs. $1.86 bln S&P Capital IQ Consensus.
- Four weeks into Q4, company is seeing promising trends in cross-border travel, renewed interest in urban stays, stabilizing cancellations, and a strong backlog of future bookings.
- Expects Nights and Experiences Booked growth to moderate slightly relative to Q3, while ADR will face some pressure from FX headwinds and business mix.
- Expects adjusted EBITDA to be up meaningfully on a nominal basis yr/yr.
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