Airbnb Inc (NASDAQ:ABNB, ETR:6Z1) shares sank almost 14% on Wednesday morning as the alternative accommodation platform’s revenue guidance for the third quarter fell short of expectations.
The app operator said it was seeing "some signs of slowing demand from US guests" and shorter booking lead times globally, implying more lastminute decisions due to increased uncertainty and caution over spending.
For Q3, Airbnb projects revenue in the range of $3.67 billion to $3.73 billion, representing year-over-year growth of 8% to 10%, missing estimates of $3.86 billion.
For the past quarter, earnings per share (EPS) booked in at $0.86, down from $0.98 from a year earlier and missing Wall Street estimates of $0.92.
Revenue grew 11% year-over-year to $2.75 billion, in line with the Street consensus.
Nights and Experiences grew 9% from the year-ago quarter to 125.1 million.
Shares of Airbnb traded down 15.3% at $110.50 in early trading, after results were announced afterhours.
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