Why Airbnb Stock Is Sliding After Hours

Airbnb Inc ABNB shares are trading lower in Tuesday’s after-hours session after the company reported third-quarter financial results.

Airbnb reported third-quarter revenue of $2.88 billion, which beat average analyst estimates of $2.84 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.79 per share, which beat average estimates of $1.45 per share. 

“Our Q3 results demonstrate that Airbnb continues to drive growth and profitability at scale. And regardless of continued macro uncertainties, we believe we’re well positioned for the road ahead,” the company said in a letter to shareholders.

Airbnb noted that guest demand remains strong. The company is seeing strong host growth as well. 

Airbnb expects fourth-quarter revenue to be between $1.8 billion and $1.88 billion versus average estimates of $1.85 billion. 

See Also: Check Out What Whales Are Doing With ABNB

ABNB Price Action: Airbnb has a 52-week high of $191.73 and a 52-week low of $86.71.

The stock was down 5.91% in after-hours at $102.60 at the time of publication.

Photo: giovanni gargiulo from Pixabay.