Airbnb $ABNB Posts bumper Q2 expects Q3 and Q4 to set records
May 28th 2023, 12:53 pm
Airbnb posted a strong Q2 result with revenue coming in at $2.1billion, just shy of analyst forecasts of $2.11.
Nights and experiences booked during the quarter were up 25% to 103.7 million vs 83.1 million in the same period last year.
Free cash flow also came in strong to $795 million, which takes their trailing 12-month free cash flow to $2.9 billion.
At close to $10 billion in cash on the books and consistently generating healthy free cash flow, Airbnb announced a $2 billion stock buyback. I think there's an argument for better use of cash considering their just coming out of the pandemic but I think the deflated value of shares won overall.