What Airbnb will need for sustained growth
02/14/2024 05:37
Shares of Airbnb (ABNB) are jumping up as the company posted its fourth-quarter earnings, revealing revenue of $2.22 billion topping Wall Street estimates of $2.16 billion. In addition, nights and experiences booked increased 12% to 98.8 million, while also issuing a better-than-expected revenue forecast of $2.03 billion to $2.07 billion. Bloomberg Intelligence Senior Analyst Mandeep Singh joins Yahoo Finance to discuss Airbnb's performance and how the company manages to sustain growth. Singh elaborates on Airbnb's plan to expand in Europe, and what it will do for growth: "The regional expansion is going to give you low teens growth, and they are maintaining that supply. I think the question remains around what drives that kind of pricing tailwind we saw during the pandemic, and the tougher comps will really put question marks around their ability to sustain high teens to over 20% growth which they have done since the pandemic. So, I think we are at a point where it feels like the market is getting saturated for them somewhat, but they still have that brand and the category leadership..." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Shares of Airbnb (ABNB) are jumping up as the company posted its fourth-quarter earnings, revealing revenue of $2.22 billion topping Wall Street estimates of $2.16 billion. In addition, nights and experiences booked increased 12% to 98.8 million, while also issuing a better-than-expected revenue forecast of $2.03 billion to $2.07 billion.
Bloomberg Intelligence Senior Analyst Mandeep Singh joins Yahoo Finance to discuss Airbnb's performance and how the company manages to sustain growth.
Singh elaborates on Airbnb's plan to expand in Europe, and what it will do for growth: "The regional expansion is going to give you low teens growth, and they are maintaining that supply. I think the question remains around what drives that kind of pricing tailwind we saw during the pandemic, and the tougher comps will really put question marks around their ability to sustain high teens to over 20% growth which they have done since the pandemic. So, I think we are at a point where it feels like the market is getting saturated for them somewhat, but they still have that brand and the category leadership..."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino