Airbnb rolls out positive guidance after Q4 revenue beats estimates

Investing.com -- Airbnb reported Tuesday better-than-expected guidance for the current quarter, after fourth-quarter revenue topped Wall Street estimate as strong demand for travel continued to drive bookings.

Airbnb Inc (NASDAQ:ABNB) shares fell more than 3% in after-hours trading.

The company reported a loss of $0.55 per diluted share on revenue of $2.22 billion, compared with Wall Street estimates for EPS of $0.55 on revenue of $2.16B.

The beat was driven by strength in it bookings for nights and experiences, which was up 12% in Q4 compared to the same period last year, supporting a 15% jump in gross booking value to $15.5B.

The take rate, which measures revenue over gross booking value, was 14.3%, which was "relatively stable with Q4 2022,' the company said.

Looking ahead to Q1, the company guided revenue in a range between $2.03B to $2.07B, compared with Wall Street estimates for $2.03B. The take rate "will be notably higher than Q1 2023, largely due to the timing of the Easter holiday," it added.

The growth rate of nights booked in Q1, meanwhile, is expected to moderate relative to Q4 2023, with the average day rate, or ADR, which measures how much hosts charge guests per day, for the quarter is expected to be flat to slightly up compared to Q1 2023.

The company also launched a $6B stock buyback program.