Airbnb Shares Surge 11% Following Strong Q3 Growth and $12 Billion Buyback Announcement
Airbnb (ABNB) shares jumped over 11% following a robust third-quarter earnings report that highlighted accelerating growth. The company reported a 19% year-over-year revenue increase to $4.9 billion, driven by a 16% rise in nights and seats booked. CEO Brian Chesky noted that the platform is seeing reaccelerated growth across established markets, supported by a 13% increase in first-time bookers and significant traction among Gen Z customers. The company's strong financial position was further underscored by a 29% surge in quarterly free cash flow to $1.4 billion. Leveraging this liquidity, Airbnb announced a massive $12 billion stock repurchase program. Looking ahead, management has raised its full-year revenue guidance to the 'high teens,' signaling confidence in sustained global travel demand and continued margin expansion.
Tickers: $ABNB
Topics: earnings report free cash flow revenue growth stock buyback
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