Airbnb is expected to report strong third-quarter earnings this evening, despite ongoing travel restrictions in some regions.
The consensus EPS Estimate is $0.83 and the consensus Revenue Estimate is $2.06B.
The property rental company has been in recovery mode since the pandemic, and the third quarter is normally the strongest period for Airbnb, covering the summer holiday season for Europe and the Americas.
In fiscal 2019, Airbnb posted revenue of $1.6 billion in the third quarter. In 2020, the pandemic disrupted those figures, and revenue dropped to $1.3 billion.
While management did not give a specific dollar figure estimate for revenue in this fiscal quarter, its second quarter results 2021’s shareholder letter said, ” … we expect Q3 2021 to be our strongest quarterly revenue on record, finishing well above Q3 2019 levels.”
This shows strong survival skills, considering the fact that many restrictions are still in place for international travel. The stock price is up roughly 14.9 per cent year to date.
The vaccine rollout is undoubtedly a key influencer to the company’s forward looking figures, as well as the booking growth for the site.