Why Airbnb Shares Are Rising Today

Why Airbnb Shares Are Rising Today

Airbnb Inc ABNB is trading higher Wednesday after the company announced better-than-expected top-line results for the fourth quarter and issued guidance above estimates.

Airbnb reported quarterly revenue of $1.5 billion, which beat the $1.46 billion estimate. The company reported adjusted EBITDA of $333 million, which was up from a loss of $21 million year-over-year. 

Airbnb's host community had 6 million active listings at the end of 2021. Hosts earned a record $34 billion during the year.

"We are amidst the biggest change to travel since the advent of commercial flying. Airbnb’s adaptable model and relentless innovation are making it possible for us to grow this new category of travel we created," said Brian Chesky, co-founder and CEO of Airbnb.

Airbnb expects first-quarter revenue to be between $1.41 billion and $1.48 billion versus the $1.24 billion estimate.

Several analysts weighed in on the stock following Airbnb's financial results. All analyst adjustments included price target increases, ranging from $170 to $235 per share. 

Airbnb is the world's largest online alternative accommodation travel agency.

See Also: Why The Trade Desk Shares Are Falling Today

ABNB Price Action: Airbnb has traded as low as $129.71 and as high as $218.78 over a 52-week period.

The stock was up 6.28% at $191.37 at time of publication.

Photo: courtesy of Airbnb.

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