Is Airbnb Stock a Buy After Beating Its Bookings Record?
Airbnb (NASDAQ: ABNB) reported second-quarter earnings after the market closed on Tuesday. Among the headlines, the company set a new record with more than 103 million nights and experiences booked. But that figure fell short of the 106 million Wall Street was expecting.
Airbnb also narrowly missed top-line estimates, though it beat expectations on the bottom line. Revenue grew 58% to $2.1 billion in the second quarter, and the company posted earnings of $0.56 per diluted share under generally accepted accounting principles (GAAP), up from a loss of $0.11 per diluted share in the prior year.
Investors were less than impressed and the stock dropped as much as 8% after hours on Tuesday but mostly recovered on Wednesday. Is this a buying opportunity?
Source Fool.com
