Airbnb shares soar after it smashes earnings estimates
Earnings, revenues, and the outlook impressed traders with the stock up more than 14% at one point. Trading all-sessions on the IG platform, the company said the unexpected upside in its fourth quarter carried on into 2023.
(Video Transcript)
Airbnb shares jump
Shares of Airbnb ended up 13.9% all-sessions on the IG platform late last night after it produced earnings and revenues and the output, that beat estimates across the board.
Share price chart
Let's take a look at what's happened with the share price, because you can see it's crashing away through this line of resistance at 12140, ending at 13218, up a whopping 13.93% at the close last night, earnings per share, $0.48. We've been looking for $0.25. Revenues were at $1.9 billion. We've been looking for $1.86 billion. And revenue for the fourth quarter was up 24% year-over-year (YoY).
Airbnb also said it's seeing continued strong demand at the start of this year, 2023. It expects revenue in the first quarter to be between $1.75bn and $1.82bn above the $1.69 billion forecast.
And you can see that the share price ended up last night close to levels not seen since the 9th of May last year, in a turnaround for the stock, that's been under a lot of pressure because of the Covid-19 lockdowns.
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