Home / Business and Economy / Airbnb Soars on Bookings Surge, Coinbase Recovers
Airbnb Soars on Bookings Surge, Coinbase Recovers
13 Feb
Summary
- Airbnb shares rose due to strong fourth-quarter bookings and outlook.
- Coinbase shares climbed as investors believed worst was priced in.
- Expedia shares fell despite reporting fastest revenue growth in three years.
Airbnb's stock surged as the company reported impressive fourth-quarter bookings and issued a positive revenue outlook. This performance was attributed to sustained high travel demand and the successful integration of new flexible payment and booking features. For the quarter ending March 31, Airbnb projected revenues between $2.59 billion and $2.63 billion, with full-year revenue growth expected to accelerate to at least low double digits.
Coinbase shares also rose, a surprising move given the company's weaker quarterly results. This upward trend suggests that some market participants believe the cryptocurrency exchange has already factored the worst of its performance into its current valuation. The company's results were impacted by softer trading volumes and pressure on transaction revenue, underscoring its sensitivity to digital asset price volatility.
In contrast, Expedia experienced a stock decline despite reporting its strongest fourth-quarter revenue growth in three years. The online travel company also provided a first-quarter sales and gross bookings view that exceeded Wall Street expectations. Analysts acknowledge Expedia's solid fundamental outlook, although discussions surrounding potential risks posed by artificial intelligence to online travel agents are expected to continue.
