What to expect from Airbnb's Q1 earnings
courtneyk
Airbnb (NASDAQ:ABNB) is scheduled to announce Q1 earnings results on Tuesday, May 9th, after market close.
At the time of its Q4 2022 reports, the stock price witnessed a jump due to better than forecast performance and bullish Q1 2023 forecast. The company asserted, âIn Q1 2023, we expect Nights and Experiences Booked year-over-year growth to be nearly as strong as Q4 2022.â
Sell side analyst give it a Buy rating with an average target price of $141.53. The stock lead gains during the third week of April
April start saw 'The Bear Cave' giving out a short report on Thursday that Airbnb (ABNB), that it is increasingly facing competition from its own "top professional hosts," who are building out their own booking platforms and offering better prices than ABNB.
The San-Francisco-based experience provider, has laid off 30% of its recruiting staff. However, a company spokesperson told Seeking Alpha that the company still plans to hire in 2023 and expand its overall headcount despite trimming the recruiters tasked with finding candidates.
A possible recession in H2 2023 could influence market psychology and possibly impact profitability and price performance. It is broadly expected that Q1 could potentially face a miss due to an oversupply of rentals.
The consensus EPS Estimate is $0.16 and the consensus Revenue Estimate is $1.79B (+18.5% Y/Y).
Over the last 3 months, EPS estimates have seen 4 upward revisions and 1 downward. Revenue estimates have seen 22 upward revisions and 1 downward.

Quant rating for the stock remains at Hold with lower factor grades given to Valuation.

Peer group Expedia Group (EXPE) beat its topline estimates, with total gross bookings were $29.4B, an increase of 20%, compared to 2022. However, Booking Holdings (BKNG) fell after its Q1 gross bookings tallied $39.43B vs. $35.89 consensus.

More related reads on the stock: 

Airbnb: Tough Comps Ahead
Airbnb: Well Positioned To Navigate Upcoming Recession Fears