Airbnb ABNB is scheduled to report third-quarter 2022 results on Nov 1.
Increasing customers’ bookings in North America, the EMEA and Latin America are likely to have contributed well to Nights and Experiences Booked metric in the third quarter.
The Zacks Consensus Estimate for Nights and Experiences Booked for the third quarter is pegged at 101 million, implying a 27.98% increase from the year-ago quarter’s reported figure.
Moreover, price appreciation is expected to have driven Gross Booking Value per Night and Experience Booked (or Average Daily Rates) in the underlined quarter.
Expected growth in these business metrics might have improved Gross Booking Value (GBV) in the quarter under discussion.
The Zacks Consensus Estimate for the third quarter’s GBV is pegged at $15.8 billion, suggesting growth of 32.6% from the year-ago quarter’s reported figure.
Click here to know how ABNB’s overall third-quarter performance is expected to have been.
Airbnb, Inc. Price and EPS Surprise
Strengthening Booking Rate
The impact of growing demand for travel among globetrotters is expected to get reflected in the upcoming third-quarter results.
These days, travelers are making flexible itineraries owing to the growing remote and hybrid working initiatives. The flexibility in travel plans is likely to have accelerated Airbnb’s booking rate in the underlined quarter.
Moreover, the holiday season during the third quarter is likely to have proliferated ABNB’s bookings in the quarter to be reported.
During the third quarter, Airbnb unveiled the Historical Homes Category to help visitors discover homes offering an authentic cultural and historical stay. Notably, travelers can find almost 20,000 heritage homes in the United Kingdom, France, Germany, Spain and Italy.
In addition, ABNB introduced the Countryside category to let guests enjoy luxurious stays all across the globe.
The introduction of new categories to the Airbnb platform is likely to have benefited travelers in choosing suitable homes to enjoy their trips. This might have driven the top line in the quarter under review.
In August, the expansive countryside property where BTS stayed during the filming of HYBE’s original content was made available on Airbnb. This is expected to have engaged BTS fans to Airbnb’s platform in the third quarter.
All the above-mentioned factors are anticipated to have contributed well to GBV growth in the quarter under discussion.
Zacks Rank & Other Stocks to Consider
Currently, Airbnb sports a Zacks Rank #1 (Strong Buy). Investors interested in the broader Zacks Computer & Technology sector can also consider some other top-ranked stocks like Baidu BIDU, The Trade Desk TTD and Tencent Music Entertainment Group TME, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Baidu is set to report third-quarter 2022 results on Nov 16. The Zacks Consensus Estimate for BIDU’s earnings is pegged at $2.44 per share, suggesting an increase of 7.02% from the prior-year period’s reported figure. BIDU has lost 47.2% in the year-to-date period. Baidu’s long-term earnings growth rate is currently projected at 20.9%.
The Trade Desk is scheduled to release third-quarter 2022 results on Nov 9. The Zacks Consensus Estimate for TTD’s earnings is pegged at 24 cents per share, suggesting an increase of 33.3% from the prior-year quarter’s reported figure. TTD has lost 41.4% in the year-to-date period. TTD’s long-term earnings growth rate is currently projected at 24%.
Tencent Music is scheduled to release third-quarter 2022 results on Nov 15. The Zacks Consensus Estimate for TME’s earnings is pegged at 11 cents per share, suggesting an increase of 22.2% from the prior-year quarter’s reported figure. TME has lost 46.5% in the year-to-date period. TME’s long-term earnings growth rate is currently projected at 17.9%.
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