On Wall Street, expectations were $0.52 EPS and $2.1 billion in revenue. Equally important, the management of the company, in a letter to shareholders, said that this quarter was the most profitable one on record for the firm. Further, the letter mentioned that the firm has almost $10 billion cash on hand, thus approving a $2 billion share repurchase program.
Airbnb posts strong guidance
Additionally, guidance given for the third quarter seemed as a continuation of the positive momentum seen during Q2, as the highest revenue in its history is expected along with stable and increased bookings.
ABNB chart and analysis
In the run-up to the earnings, since July 14, the shares gained over 27%; however, a cumulative drop of 10% in yesterday’s session might look to pare back those gains. Overall, the short-term trend still remains positive, while the long-term is negative, with the shares trading in a range between $90.17 and $117.78, over the past month. Right now, the stock is down 6.74% in premarket trading, with the support zone ranging from $108.14 to $108.50, and the resistance line at $142.95. Travel stocks seem to be performing well, with the release of pent-up demand boosting the share prices of most travel companies. Inflationary worries have some investors fleeing the travel names, but on the whole, the sentiment should improve the moment inflation starts slowing or reversing; until then, investors should exercise caution. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
