ABNB Stock: 7 Things to Like About Airbnb as Shares Break Out Today

The past couple weeks have been, shall we say, volatile for Airbnb (NASDAQ:ABNB). Ever since reporting earnings on Nov. 4, ABNB stock has spiked approximately 18%. However, over this past week alone, shares dipped approximately 10% mid-week before seeing an end-of-week recovery.

A hand holds up the Airbnb (ABNB) logo outside a home in Estonia.
Source: AlesiaKan / Shutterstock.com

Today, shares of ABNB stock are up more than 6% at the time of this writing on heavy volume. This move comes as investors continue to digest the direction Airbnb could be headed, following the company’s recent earnings release.

With a lack of real news driving the price action we’ve seen in ABNB stock in recent days, it appears to be a continued post-earnings rally that’s largely causing this upward momentum. So, with this context, let’s dive into a few things that investors like about the company’s recent numbers.

ABNB Stock Continues to Move Higher Post-Earnings

Here are some of the earnings highlights affecting ABNB stock right now:

  1. Airbnb had a massive quarter overall, posting record revenue and profits
  2. On the bottom line, the company posted $1.22 per share in earnings.
  3. The surge in net income represented 280% growth year-over-year (YOY), beating estimates by a wide margin.
  4. Top-line growth of 67% also blew away estimates.
  5. The company brought in $2.24 billion in revenue, versus consensus estimates of $2.05 billion.
  6. Bookings were slightly down over the past quarter, but were still nearly 30% higher on a YOY basis.
  7. Additionally, the company expects vaccination progress and the lifting of international travel restrictions to boost its future performance.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/11/abnb-stock-7-things-to-like-about-airbnb-as-shares-break-out-today/.

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