Airbnb Inc.’s stock bounced around in volatile extended trading Tuesday following quarterly results that eclipsed analysts’ revenue estimates and guidance.
The vacation-property rentals company
ABNB,
reported a fiscal fourth-quarter net loss of $349 million, or 55 cents a share, compared with net income of $319 million, or 50 cents a share, in the same quarter a year ago.
Airbnb’s sales climbed 17% to $2.22 billion from $1.9 billion in the year-ago quarter.
Analysts polled by FactSet had expected on average adjusted earnings of 66 cents a share on revenue of $2.165 billion.
Airbnb provided first-quarter sales guidance of $2.03 billion to $2.07 billion, while FactSet analysts are forecasting $2.03 billion.
After initially spiking 17% immediately after the report was released, shares quickly turned tail and gave up those gains; the stock was last up 1% in after-hours trading. In regular trading Tuesday, Airbnb declined nearly 2% to $150.82.
“Airbnb is at an inflection point,” the company said in a letter to shareholders Tuesday, announcing the results. “We spent the past three years perfecting our core service, and now we’re ready to embark on our next chapter.”
Shares of Airbnb are up 25% over this past year, while the broader S&P 500 index
SPX
has advanced 20%.
This story originally appeared on Marketwatch
