(AOF) – AirBNB (-9.43% to $133.48) posts the second largest decline in the S&P 500 Wall Street index after the publication of its third quarter results. The rental platform posted adjusted earnings per share of $2.13 versus a consensus of $2.17, for revenue up 10% year-on-year to $3.7 billion, in line with forecasts. Bank of America forecasts that margins for the first half of 2025 will be down compared to the previous year but expects annual margins for 2025 to be 35.8%, stable compared to 2024.
AirBNB cites sales and marketing expenses that grew faster than revenues year-over-year, in part due to investments in global markets, notably Japan and Brazil. The group is also reporting a slower start to bookings in the current quarter due to shorter booking lead times compared to 2023.
The gross value of reservations, however, increased by 10% in the 3rd quarter year-on-year to $20.1 billion. AirBNB forecasts fourth-quarter revenue of between $2.39 and $2.44 billion, up 8 to 10% year-on-year.
“We expect overnight bookings to accelerate in the fourth quarter compared to the third,” management said on a conference call, according to Reuters: It also expects tougher year-over-year comparisons. 'other.
