Airbnb Inc - Class A

Airbnb delivered a blowout third quarter, posting earnings per share of $1.22 against a consensus estimate of $0.75, a beat of 62.67%, while revenue of $2.24 billion topped the $2.05 billion estimate by 9.10% and surged 66.7% year-over-year. The standout result was driven primarily by a powerful combination of surging travel demand and significantly higher Average Daily Rates, with ADR reaching approximately $149, as guests gravitated toward entire homes, North American destinations, and non-urban markets. Net income reached $833.89 million, up 280% year-over-year, while Adjusted EBITDA hit $1.10 billion on a 49% margin, reflecting disciplined cost management even as sales and marketing spend rose sharply to support brand campaigns. The quarter also underscored a structural shift in travel behavior, with long-term stays of 28 or more days growing to 20% of gross nights booked. Looking ahead, management guided Q4 2021 revenue of $1.39 billion to $1.48 billion, with Thanksgiving week bookings running 40% above 2019 levels, pointing to continued momentum well into 2022, even as competitors like Vrbo accelerate their own recovery strategies.