Airbnb Shares Fall After Mixed Q2 Results: EPS Miss, Revenue Beats

Airbnb Inc. ABNB shares are down after the company reported its second-quarter financial results Tuesday. Here's a look at the details from the report. 

The Details: Airbnb reported quarterly sales of $2.748 billion, which beat the analyst consensus estimate of $2.738 billion and represents a 10.63% increase over sales from the same period last year. Airbnb reported quarterly GAAP earnings of 86 cents per share, which missed the analyst consensus estimate of 92 cents by 6.52%. 

The company said Nights and Experiences Booked increased 9% year-over-year to 125.1 million, driven by continued growth in all regions. Strong growth in Nights and Experiences Booked and a modest increase in ADR drove $21.2 billion of gross booking value (GBV) for the quarter.

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“Q2 marked another strong quarter for Airbnb. Revenue increased 11% year-over-year to $2.75 billion. Net income was $555 million, representing a net income margin of 20%. Adjusted EBITDA of $894 million increased 9% year-over-year and represented an Adjusted EBITDA Margin of 33%. We generated $1 billion of FCF during Q2 and $4.3 billion of FCF over the trailing 12 months — our highest ever,” the company wrote in a letter to shareholders.

ABNB Price Action: According to Benzinga Pro, Airbnb shares are down 13.36% after-hours at $113.04 at the time of publication Tuesday.

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Image: Courtesy of Airbnb, Inc.