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Author: Alan LittleDate: 2021-03-01

Airbnb (ABNB) and Etsy (ETSY) make gains after Q4 beats

Airbnb (ABNB) published its first post-IPO results on Friday and it proved to be a strong showing for the holiday rental company as revenue of $859m trumped the consensus by more than $100m. 

 

Airbnb, which went public at the end of last year and raised around $3.5bn on its first day of trading, said that it was “preparing for the travel rebound” after a tough year for business. 

 

While revenue did beat estimates, it was down 22% from the same period a year earlier, and its overall loss came in at $3.9bn following a $2.8bn charge related to its IPO 

 

Airbnb’s common shares were valued at $68 on its market debut in December, but have since surged to a trading high of $219.  

 

ABNB made healthy gains on Friday after its report, rising 13.34% to $206.35 on the Nasdaq.  

 

Airbnb is confident that there will be a softer annual decline in revenue in Q1, with the company already seeing “gradual improvements” in bookings from travellers.  

 

It added: “As the vaccine is rolled out and restrictions lift, we expect there will be a significant travel rebound. 

 

Analysts believe that Airbnb is in a better position to benefit from that rally than rivals such as Expedia (EXPE). 

 

Etsy (ETSY) shares climbed 11.48% during the final session of last week on its own robust Q4 report. 

 

The online artisanal platform posted $1.08 earnings per share and $617m versus the $0.59 and $516m Wall Street consensus. 

 

Earnings and revenue quadrupled and doubled, respectively, year over year as consumers embraced the company’s eclectic mix of goods during the pandemic. 

 

Tesla (TSLA) CEO Elon Musk also recently stated “I kinda love Etsy” in a tweet.   

 

 

Source: 

http://bit.ly/3uHBeIB 

http://bit.ly/3bLwtVS 

http://bit.ly/3kzaDJd 

http://bit.ly/3e2N5ex 

 

 

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