Shares of Airbnb are falling as second-quarter outcomes are considerably underwhelming

Shares of Airbnb fell on Wednesday after reporting second-quarter results that beat revenue but missed slightly on revenue.

Airbnb (ABNB) also announced a $2 billion share buyback program.




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Late Tuesday, the rental housing provider reported adjusted earnings of 56 cents to $2.1 billion. share of USD income. Wall Street had expected Airbnb to report earnings of 45 cents on $2.11 billion, according to FactSet. USD revenue.

Airbnb stock promotion

Airbnb shares fell 1.1% to close at 115.02 stock market today. Airbnb stock’s RS rank is just 22 out of a possible 99. The EPS rank is 69.

The company reported bookings of more than 103 million nights and trips, the highest quarterly number ever, but missed forecasts.

Airbnb reported a total order of $17 billion. USD, which is 27% more than a year ago.

The company is gaining momentum as consumers shift their spending from goods to services. Consumers want to travel after staying at home throughout the pandemic.

Travel boom to continue

San Francisco-based Airbnb expects the travel boom to continue. Third-quarter revenue ranged from $2.78 billion. up to 2.88 billion USD, which is lower than Wall Street’s $2.77 billion.

Despite more people returning to the office for work, Airbnb’s extended stays, where guests stay in a home for 28 days or more, are still Airbnb’s fastest-growing segment, up 25% year-over-year.

While Airbnb shares are trading higher 50 day moving averageit has a weak IBD composite score of 38 out of a possible best of 99.

Follow Brian Deagon on Twitter at @IBD_BDeagon more about technology stocks, analysis and financial markets.

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