Airbnb shares slide on lower revenue forecast despite a doubling of net income
Release time：2024-05-09 09:39:35 Source：Global Guide news portal
SAN FRANCISCO (AP) — Airbnb’s profit more than doubled last quarter, but management’s disappointing revenue forecast sparked a roughly 7% drop in its stock in after-market trading Wednesday.
The San Francisco-based vacation rental app said its net income rose to $264 million in the first quarter from $117 million a year earlier, on revenue that rose 18% to $2.14 billion. Earnings per share in the quarter jumped to 41 cents; analysts surveyed by FactSet expected 23 cents.
Earnings growth was partly driven by a shift in the Easter holiday, which came during the first quarter this year versus the second quarter in 2023. Easter is a significant travel holiday.
The quarter also included the Feb. 29 “leap day,” which added an extra day of business to the first quarter compared to a year earlier.
Airbnb projected revenue in the second quarter between $2.68 billion and $2.74 billion. That fell short of Wall Street expectations, partly because of unfavorable exchange rates and partly because of Easter falling earlier.
- Previous：Malaysian soccer player splashed with acid, two others attacked in a week of rare violence
- Next：Another tennis player suspended for corruption linked to match
Related articles
- Cease, 2 relievers combine on 1
- Blossoms of Chinese Flowering Crabapple Boost Tourism in N China's Tianjin
- Experts, Officials Call for Deepening Int'l Education Cooperation
- Ancient Town Boosts Local Cultural Tourism in Mangshi City, SW China
- Pennsylvania sees fewer mail ballots rejected for technicalities, a priority for election officials
- Spinning Top Competition Held to Celebrate Upcoming Int'l Women's Day in S China's Guangxi
- Development of Animation Industry Injects Vitality to Old Village in S China's Haikou
- China Focus: Shenzhou
- Ippei Mizuhara, ex
- China Steadily Improves People's Wellbeing over Past 5 Years: Report
- The Rev. Al Sharpton calls for justice in eulogy for Ohio man who died last month in police custody
- Boarding Schools Ensure Fairer Education in Tibet
- China Lists 5 New National
- Half of China's Population Aged 65 to 69 Use Smartphones: Survey
- Mexico hit by hours of rolling blackouts due to high temperatures and low power generation
- China's 10th National Public Ice and Snow Season launched
- China Focus: TCM Sees Rising Popularity Among Young People
- Spring Ploughing and Seedling Raising Start in SW China's Guizhou
- Woman seeks to drop sexual assault lawsuit against ex
- Innovative Tea
Random recommendation
- Copyright © 2024 Powered by Airbnb shares slide on lower revenue forecast despite a doubling of net income ,Global Guide news portal sitemap