Menu
sharewise sharewise
Log in
Sign up
Log in
Sign up
sharewise is moving On the weekend of 22/23 August the new sharewise becomes the main site. Have a look now and tell us what you miss. Go to the new sharewise What changes
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Airbnb Stock Fell on Wednesday

TheMotleyFool 
0 0 10.05.23
Why Airbnb Stock Fell on Wednesday
 

Airbnb (NASDAQ: ABNB) investors were seeing red early Wednesday. The rental platform's stock was down 11% by 11:15 a.m. ET, compared to a modest uptick for the S 500. The slump only erased a small portion of shareholders' recent gains, though. Airbnb is up over 30% so far in 2023 compared to a 7% increase in the wider market.

Wednesday's decline was sparked by the company's first-quarter earnings update.

Airbnb said before the market opened that sales grew 20% to $1.8 billion for the first quarter. That result put revenue right within the outlook range that management issued back in February, calling for growth between 16% and 21%. Executives said travel demand remains elevated in early 2023, citing a 25% increase in its backlog of bookings. "We had a strong start to 2023," management said in a letter to shareholders.

Continue reading


Source Fool.com

travel BV ADR Stock

Show more
Like: 0
ABNB
Share

Comments

Not a member yet? Sign up for free!