ABNB Airbnb Inc

By Denny Jacob

Airbnb issued its outlook for the current quarter in tandem with its latest results.

The home-sharing company forecast fourth-quarter revenue between $2.13 billion and $2.17 billion, which would fall between 12% and 14% year-over-year growth. Analysts polled by FactSet expected $2.18 billion.

The San Francisco-based company said in a letter to shareholders that it's seeing greater volatility early in the quarter following a record-breaking summer travel season during the third quarter.

"We are seeing greater volatility early in Q4, and are closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand," said Airbnb.

Companies in the travel space have faced a flurry of challenges, the latest being the war in Israel. Royal Caribbean and Norwegian Cruise Line Holdings this week said their financial performance would be pressured by cruise cancellations given the war between Israel and Hamas.

Airbnb said it expects its nights booked growth in the fourth quarter to moderate relative to the third quarter. The company also forecast record adjusted earnings before interest, taxes, depreciation and amortization in the current quarter on a nominal basis and an adjusted Ebitda margin that exceeds the prior-year period.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 01, 2023 16:28 ET (20:28 GMT)

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