💵 finally making bank

ABNB 0.00 (airbnb) released q4 earnings and reported its first profitable year in 2022

• that's right – positive profit as in positive net income

  • airbnb made $3.3b in revenue in 2020, but after all expenses, its net income was at a $4.5b loss

  • in 2021, the company made $5.9b in revenue, but after all expenses, its net income was at a $352m loss

• finally, in 2022, revenue came in $8.3b for the full year and net income at +$1.8b

📈 growing fundamentals

• urban night stays were up 22% yoy in q4 '2020

• cross-border travel was up 49% yoy (year-over-year)

• the platform now has 6.6m global active listings, meaning it added ~900k listings in 2022

😐 the rally happened but it didn’t

• before the earnings release, analysts were quite pessimistic on airbnb's performance, with the consensus price target at $126

• but after beating expectations by 92% (eps of 48 cents vs 25 cents), shares popped more than 7% in after-hours trading

• but the enthusiasm fizzled away and share price came back down after a rather gloomy outlook in the fed’s interest rate hike plans…

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💡 something im thinking about

kids in 1966 predicting 2000 (click image)

as always, i’m no financial advisor! (i’m no substitute for professional financial services)