Airbnb Issues 4Q Outlook, Sees Greater Volatility Following 3Q Travel Boom
01 Novembre 2023 - 9:43PM
Dow Jones News
By Denny Jacob
Airbnb issued its outlook for the current quarter in tandem with
its latest results.
The home-sharing company forecast fourth-quarter revenue between
$2.13 billion and $2.17 billion, which would fall between 12% and
14% year-over-year growth. Analysts polled by FactSet expected
$2.18 billion.
The San Francisco-based company said in a letter to shareholders
that it's seeing greater volatility early in the quarter following
a record-breaking summer travel season during the third
quarter.
"We are seeing greater volatility early in Q4, and are closely
monitoring macroeconomic trends and geopolitical conflicts that may
impact travel demand," said Airbnb.
Companies in the travel space have faced a flurry of challenges,
the latest being the war in Israel. Royal Caribbean and Norwegian
Cruise Line Holdings this week said their financial performance
would be pressured by cruise cancellations given the war between
Israel and Hamas.
Airbnb said it expects its nights booked growth in the fourth
quarter to moderate relative to the third quarter. The company also
forecast record adjusted earnings before interest, taxes,
depreciation and amortization in the current quarter on a nominal
basis and an adjusted Ebitda margin that exceeds the prior-year
period.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 01, 2023 16:28 ET (20:28 GMT)
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