Airbnb Stock Sinks on Mixed Q2 Results and Slowing Growth
**San Francisco, Calif.** - Airbnb (ABNB) shares plummeted late Tuesday after the vacation rental booking platform reported mixed second-quarter results. The company's earnings per share fell short of analysts' expectations, while revenue growth showed signs of slowing.
Weaker Earnings and Revenue
On average, analysts had projected Airbnb to post earnings of 91 cents per share on revenue of $2.7 billion for the quarter, according to FactSet. However, the company reported earnings per share of only 84 cents, with revenue reaching $2.6 billion.
Slowing Growth Forecast
Airbnb executives also expressed concern about some signs of slowing growth. The company said it expects a moderation in gains for nights and experiences booked in future quarters. This outlook dampened investors' enthusiasm for the stock.
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