The San Francisco-based home rental platform beat Wall Street expectations for revenue and bookings in Q2 2021
Airbnb reported revenues of $1.34 billion, topping the $1.26 billion forecasted, up almost 300% year-over-year. The company reported 83.1 million nights and experiences booked, marking a 29% increase from Q1 and a 197% increase year-over-year.
Sales and marketing expenses for the second quarter were up 175% compared to last year’s figures, reaching $315 million. According to Airbnb, the rise was due to “Made Possible by Hosts” campaign.
Gross booking value, the company’s way of tracking host earnings, service fees, cleaning fees and taxes, was up 320% to $13.4 billion, single-handedly beating the $11.56 billion consensus.
For the future, Airbnb warned about the volatility caused by the COVID-19 Delta variant. Although it expects Q3 to deliver the strongest quarterly revenue on record, the third quarter nights and experiences booked could be below what it reported in Q2 and Q3 2019.
Dave Stephenson, Airbnb CFO, stated: “As we exit Q2 and come into Q3, we have a combination of fewer bookings for the fall, just given the nature of some of the seasonality, and any kind of impact potentially on Covid concerns.”
Since the last earnings report on May 13, Airbnb stock price has risen 9.1%.
Sources: cnbc.com, thestreet.com
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.