Airbnb (ABNB) Q2 Earnings Report Preview: What To Look For

ABNB Cover Image

Online accommodations platform Airbnb (NASDAQ: ABNB) will be reporting earnings this Wednesday after the bell. Here’s what to expect.

Airbnb beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $2.27 billion, up 6.1% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but revenue guidance for next quarter meeting analysts’ expectations. It reported 143.1 million nights booked, up 7.9% year on year.

Is Airbnb a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Airbnb’s revenue to grow 10.3% year on year to $3.03 billion, in line with the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.94 per share.

Airbnb Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Airbnb has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.4% on average.

Looking at Airbnb’s peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Booking delivered year-on-year revenue growth of 16%, beating analysts’ expectations by 3.7%, and Shutterstock reported revenues up 21.3%, topping estimates by 7.5%. Booking traded up 1% following the results while Shutterstock’s stock price was unchanged.

Read our full analysis of Booking’s results here and Shutterstock’s results here.

Investors in the consumer internet segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Airbnb is down 4.2% during the same time and is heading into earnings with an average analyst price target of $140.77 (compared to the current share price of $131.30).

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