Airbnb Shares Surge Following Strong Third-Quarter Earnings and New $12 Billion Buyback Authorization
Airbnb (ABNB) shares rose 12% following a robust third-quarter earnings report that exceeded Wall Street expectations. The company reported a 19% year-over-year revenue increase and earnings per share of $3.16, significantly beating the projected $2.85. Strong demand was evident as nights and seats booked reached 155 million, contributing to a gross booking value of $27.7 billion. To capitalize on its strong cash position, Airbnb's board authorized a new $12 billion stock repurchase program, supplementing an existing authorization. Management also raised its full-year revenue outlook and expressed optimism regarding artificial intelligence, noting that AI is currently serving as a tailwind for operational efficiency rather than a disruptive threat.
Tickers: $ABNB
Topics: earnings beat guidance raise revenue growth stock buyback
Read the full article at Motley Fool
Part of the story Airbnb Shares Surge Following Strong Third-Quarter Earnings and New $12 Billion Buyback Authorization (3 articles)