Tag: $Airbnb

Airbnb shares were falling in after-hours trading after the short-term rental company missed expectations for second quarter earnings and warned of moderating demand in the current quarter.

Airbnb shares tumbled more than 8% premarket on Thursday after weak forecasts for the second quarter stoked investor fears about slowing growth at the vacation rental firm and took the shine off a strong quarterly profit beat.

Airbnb posted better-than-expected third-quarter financial results, but provided fourth-quarter guidance that fell a little below Street estimates. The results provide an early look at the state of the travel industry, ahead of coming reports from Expedia Booking.com  and other players.

 Shares of Blackstone and Airbnb rallied in extended trade on Friday after S&P Dow Jones Indices said the two companies would join the S&P 500  index.

Total revenue rose 20% year over year. Airbnb swung to a net profit of $117 million, or 18 cents per share, from a net loss of $19 million, or 3 cents per share, in the year-earlier period. The figure marks the first time Airbnb has been profitable during its first quarter on a GAAP basis.