Airbnb (ABNB) stock price pushed 5.4% higher on Thursday during after-market hours of trading after the company reported its Q3 results.
The rental accommodations company posted adjusted EBITDA of $2.1 billion, with a margin of 50% and net income of $1.4 billion. Airbnb (ABNB) earned $2.21 per share for the quarter, up 4% from a year earlier; however, this fell short of the $2.32 per share analysts forecast.
Q3 was supported by growth in markets like the U.S., Japan, and India, with first-time bookers rising significantly in the latter two. Gross booking value rose 14% to $22.9 billion, and nights and seats booked totaled 133.6 million, up 9% Y/Y, co-founder and CEO Brian Chesky highlighted during the earnings call.
For Q4, the company outlined a revenue target of $2.66 billion to $2.72 billion, this compares to a broader consensus of $2.69 billion. The company anticipates a higher FY adjusted EBITDA margin of ~35%, up from the previously shared 34.5% floor.
“Airbnb offers a compelling long-term investment opportunity, with strong fundamentals, asset-light operations, and continued global adoption driving growth.” wrote an SA contributor, giving it a Buy rating.
SA Quant rating system gives it a Hold rating, with the highest factor grades given to profitability.