Airbnb (ABNB) reported quarterly results late Thursday that showed a large loss, but Airbnb shares fluctuated with better-than-expected earnings

Better-than-expected gross bookings have also been reported, indicating a rebound in vacation rental demand as the effects of Covid-19 wear off

The company reported and adjusted a loss of 1,124 a share of $ 859 million in revenue Wall Street expects Airbnb to make a loss of $ 8, according to FactSet, that’s a $ 747 million share of revenue, down from revenue 22% down on the same period of the previous year

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The company’s gross bookings were down 31% to $ 59 billion in the fourth quarter, but this exceeded Wall Street’s expectations of $ 517 billion

Overall, Airbnb reported a loss of $ 389 billion. Airbnb attributed much of the loss to IPO fees.

In mid-December, Airbnb held an initial public offering that raised $ 3 billion and well above increased expectations The popular online vacation rental marketplace was the biggest IPO of the year

Airbnb said it was too early to predict general recovery trends for the travel industry and the impact it will have on its business

“We have been encouraged by our continued resilience and recovery and are optimistic about the upcoming recovery in travel,” the company said in its earnings report

“However, we still have limited visibility into growth trends in 2021 as it is difficult to determine the pace of vaccine adoption and the associated impact on willingness to travel,” the company continued. “We do not currently provide an outlook for the Rest of the year 2021 “

Follow Brian Deagon on Twitter at @IBD_BDeagon for more on technical stocks, analysis, and financial markets

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Airbnb Stock

World News – US – Airbnb reports big loss, but quarterly earnings exceed expectations

Source: https://www.investors.com/news/technology/airbnb-stock-quarterly-earnings-revenue-beats-expectations-abnb/