Airbnb's (NASDAQ: ABNB) stock has done quite well in 2023, up 30% so far. However, prior to its earnings release, it was up nearly 50%. With that significant pullback, some investors may wonder if it's time to purchase some Airbnb shares before another run-up begins.

Let's look at Airbnb's business and see if the stock is a buy.

Airbnb's alternative stay platform has delivered strong results over the past year, even when many were worried that a weaker consumer wouldn't travel as much. Airbnb's first-quarter results directly contradict this notion, as gross booking volume was up 19% year over year, and revenue rose 20% to $1.8 billion.

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Source Fool.com