Airbnb Inc forecast holiday-quarter revenue that could fall short of market expectations, saying a strong dollar had started to pressure its business and bookings would moderate, sending its shares down 7% after the bell.
The San Francisco-based vacation rental company posted estimate-beating third-quarter profit and revenue.
But growth slowed to 29% in the July-September period, down from 58% in the second quarter and 67% a year earlier when people started traveling with a vengeance as COVID-19 cases fell and people who were working remotely booked longer-term stays.
Airbnb's shares have slumped more than a third this year, versus a roughly 19% fall in the broader market (.SPX).
Chief Executive Brian Chesky sought to assuage concerns on the call, saying the company expected "really strong demand" next year, especially from U.S. travelers going to Europe.
Airbnb guided fourth-quarter revenue between $1.80 billion and $1.88 billion, versus analysts' expectations of $1.85 billion, according to Refinitiv.
Airbnb's shares have slumped more than a third this year, versus a roughly 19% fall in the broader market (.SPX).
Chief Executive Brian Chesky sought to assuage concerns on the call, saying the company expected "really strong demand" next year, especially from U.S. travelers going to Europe.
Airbnb guided fourth-quarter revenue between $1.80 billion and $1.88 billion, versus analysts' expectations of $1.85 billion, according to Refinitiv.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
