Is Airbnb Stock a Buy Now?
Airbnb (NASDAQ: ABNB) stock dropped 5% during after-hours trading on Nov. 1 following its third-quarter earnings report. Revenue for the operator of the short-term rental platform rose 29% year over year (or 36% in constant currency terms) to $2.88 billion, which beat analysts' estimates by $30 million. Its net income increased 46% to $1.21 billion, or $1.79 per share, which also cleared the consensus forecast by $0.33.
Airbnb's headline numbers were impressive, but a few hints of slower growth in the fourth quarter and beyond rattled the bulls. Should investors ignore that short-term noise and still buy the stock as a long-term investment?
Image source: Airbnb.
Source Fool.com
