Airbnb Inc (NASDAQ:ABNB, ETR:6Z1) shares moved lower in afterhours trade Tuesday as the alternative accommodation platform provider posted mixed 4Q and full-year 2023 financial results.
For 4Q, Airbnb reported a 17% year-over-year jump in revenue to $2.2 billion, ahead of estimates of $2.16 billion.
However, it reported a diluted loss per share of $0.55 compared to earnings per share (EPS) of $0.48 in the year-ago quarter and Wall Street analysts estimates of EPS of $0.67.
Nights and experiences booked during the quarter were 98.8 million, up 12% over the year-ago quarter and representing a 4Q record.
For the full year 2023, diluted EPS of $7.24 missed estimates of $8.40 but revenue of $9.92 billion was narrowly ahead of the expected $9.86 billion.
Nights and experiences booked grew 14% over the 2022 financial year to 448.2 million.
Airbnb expects demand for travel to remain strong in 2024, forecasting first quarter revenue above expectations.
It said it expects revenue between $2.03 billion and $2.07 billion, representing year-over-year growth between 12% to 14%, compared to estimates of $2.03 billion.
Shares of Airbnb traded down 0.8% at about $150 shortly after the release of its earnings report.