Airbnb Inc. (NASDAQ: ABNB), a short-term rental booking service, is set to release its third-quarter earnings this week, which will feature a “bustling” summer vacation season. Despite the pandemic’s continued impact on businesses, Wall Street experts predict sales to grow to $2 billion.
People are being vaccinated against COVID-19 at an increasing rate, and many are planning holidays and trips as a result. As a result, the number of reservations on the Airbnb Inc. (ABNB) platform is increasing. People book lodging away from loud cities, in the countryside, to feel safe, and remote work is an additional growing reason.
Airbnb Inc. (ABNB) announced gross bookings of more than $13 billion in the preceding quarter, up 320 percent year over year and 37 percent higher than the same quarter in 2019. The numbers for both 2019 and 2020 imply that there is a lot of unmet travel demand. This indicates that when the epidemiological situation improves, the amount of lodging orders may increase even more, notably owing to foreign tourists, which is now in short supply.
Airbnb Inc. (ABNB) is expected to post $2 billion in third-quarter sales and $0.75 in profits per share, according to Wall Street analysts. In July and August, when warm weather coincides with school holidays, the third quarter is the busiest travel period.
While Airbnb’s short-term success is based on the COVID-19 issue, the firm has the potential to develop in the long run. A wide target market and great audience loyalty are required for this.
Airbnb Inc. (ABNB) was trading at $174.6 on November 1, roughly 20% below its 52-week high. The company’s market cap reached $110.43 billion.