Airbnb Inc (NASDAQ:ABNB) shares moved lower after the closing bell as the alternative accommodation platform projected weaker-than-expected fourth quarter revenues.
It projected 4Q revenue in the range of $2.13 billion to $2.17 billion, below Wall Street estimates of $2.18 billion.
“We are seeing greater volatility early in 4Q, and are closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand,” Airbnb said in a letter to shareholders.
For 3Q, Airbnb said its revenue grew 18% year-over-year from $2.9 billion to $3.4 billion, ahead of estimates of $3.36 billion.
Earnings per share (EPS) were $6.63. Analysts surveyed by LSEG had projected EPS of $2.10, but this may not be comparable to the company’s actual earnings according to LSEG, formerly known as Refinitiv.
Gross booking value increased 17% over the year-ago quarter to $18.3 billion.
Nights and Experiences booked increased 14% over the year-ago quarter to 113.2 million, a record for 3Q but short of the 114 million expected by analysts.
The company’s shares traded down 3.3% at US$115.60 shortly following its earnings report.
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