On Thursday Airbnb shares fell by 6% after investors have shown fears after poor performance in the second quarter.
Reuters reported that in the Easter holiday happened in the first quarter then currency impacts in the second were in some way to blame for the current quarter with poor perfromance.
A fall in US travel demand and the growth rate of rooms being booked has been flat, however the average rate per day is thought to remain modest.
“Airbnb failed to deliver a beat/raise on nights, which we believe was necessary to ease concerns about slowing growth and risk of downside to consensus estimates for accelerating growth in (the second half of 2024 and in 2025),” Jefferies analysts said.
While Airbnb topped the Q1 guide, it was shy of more aggressive buyside expectations in the quarter and the Q2 outlook,” BTIG’s Jake Fuller wrote in a client note.
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