Airbnb earnings on deck
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 7 November 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.1 | Good morning. Today is Thursday, November 7th. I'm Julie Morgan. Airbnb reports earnings after market closed. |
| 0:16.5 | Tesla gains double digits on election buzz, and Costco reports sales for October. |
| 0:23.3 | Airbnb is set to announce third quarter earnings today after market close. |
| 0:28.2 | Investors will keep an eye on bookings amid the company's warning of a slowing demand in the United States. |
| 0:34.2 | Wall Street expects the San Francisco-based company to post-quarterly EPS of $2.15, while |
| 0:40.7 | revenue is expected to rise nearly 10 percent to more than $3.7 billion. Airbnb has been seeing |
| 0:47.7 | soft demand for domestic travel in the U.S. since the start of the year, as people are cautious |
| 0:53.3 | about spending money on vacations |
| 0:55.5 | in a soft economic environment. The company in August issued a week outlook for Q3 and said |
| 1:01.1 | it is seeing some signs of slowing demand from U.S. guests and shorter booking lead times globally. |
| 1:07.5 | Booking lead time is the number of days between when a guest makes a reservation and the date they check in. |
| 1:13.9 | It will be interesting to note what the company sees for the upcoming holiday season. |
| 1:18.5 | Airbnb recently highlighted the top search destinations in the U.S. for family travel over the week of Thanksgiving. |
| 1:25.6 | Tennessee and Florida were the top two destinations. |
| 1:28.9 | Seeking Alpha analyst Luca Sochi called Airbnb's Q3 earnings a bit dangerous, adding that a small |
| 1:35.5 | downtick in its main and healthy financials and KPIs could send the stock back to $110 or lower. |
| 1:43.4 | Meanwhile, Airbnb is positive about the strength of its |
| 1:46.7 | business in Latin America and Asia Pacific. The company in September disclosed that it has reached |
| 1:52.7 | two billion guests. Wall Street Seeking Alpha analysts and Seeking Alpha's Quant |
| 1:58.0 | ratings are cautious and rate the company as a hold. |
| 2:02.5 | Tesla closed the Wednesday session with a gain of 14.7% on volume of over 1448 million shares. |
... |
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