Airbnb stock rises on Q1 earnings beat as travel demand recovers

Yahoo Finance Live anchors discuss Airbnb earnings and travel demand.

Video transcript

BRAD SMITH: Another company that's going beast mode on the shares today is Airbnb. You're seeing shares move higher by about 5.4% right now. And this is off of the most recent earnings that have come out. And continuing to track what's going on with Airbnb, I think the company and the demand that they're seeing right now-- you're looking at the actuals versus the estimates-- they beat on both the top and bottom revenue, coming in at $1 and 1/2 billion versus that $1.45 bil.

And then, additionally, EPS slightly-- well, still a loss, but lesser than expected here. And I think it's really what they forecasted here-- some of the demand that they're seeing going forward. And perhaps we'll get into it more when we talk about Marriott and kind of compare and contrast the two. But for Airbnb, I think that one thing that they can latch onto from the pandemic is the amount of people that are looking for these unique stays and a more clean opportunity, knowing what the kind of turn-over or turn-down process is like, and how much people are actually involved in that, too, perhaps to their own disgruntled nature, as a stayer at a few of these--

JULIE HYMAN: Uh-oh.

BRAD SMITH: --in the past.

JULIE HYMAN: We were showing some of the numbers on the screen, in terms of the number of nights and experiences that were booked. That 59% increase. Daily rates are also higher, by the way. Gross booking value, $17.2 billion. That was ahead of estimates. And when you talk about the forecast here, Chesky saying-- Brian Chesky, the CEO, saying that the company is seeing higher-than-historical demand for the fourth quarter.

So it's very interesting here. He basically is saying, yes, we're seeing big demand for the summer, as most of the travel companies are, but it's not only for the summer, it's beyond that, as well, which I think is quite interesting.

BRIAN SOZZI: Yeah. Also interesting, too-- Brad, you mentioned long-term stays. Long-term stays on Airbnb at an all-time high. Doubled versus the first quarter of 2019-- or, of course, that is pre-pandemic. The average stay for an Airbnb for longer-term stayers-- 28 days. That is very long. Secondarily, and to your point, Julie, April-- 30% more nights booked in April for summer versus 2019.

That was a good stat as well. And then something we can mention with Marriott too. Airbnb noting a return to urban rentals instead of rural. Rural, of course-- a lot of people left the cities during the pandemic. Now they're coming back, and apparently they want to stay in urban cities again, and maybe order $12 Starbucks drinks.

JULIE HYMAN: Oh, we were going to mention Marriott. Real quick. Sneak it in. Sneak it in, Soz.

BRIAN SOZZI: Marriott. I like-- they came back with their dividend this morning. We saw that from Hilton yesterday. That was a good thing. Also, Marriott noting a return to urban travel. They're seeing business demand starting to come back as well. There, you could see a couple of Yahoo Finance hot takeaways on Marriott's earnings. But again, good quarter from Marriott.

And we'll be talking to Marriott CEO Anthony Capuano pretty much right at the 11 o'clock hour. Looking forward to catching up with him.

BRAD SMITH: That's wedding demand right there.

BRIAN SOZZI: Yeah.

BRAD SMITH: That's people that are coming back to cities to do their bachelor, bachelorette parties.

BRIAN SOZZI: Yeah.

BRAD SMITH: Well, from my own [INAUDIBLE].

BRIAN SOZZI: Are you trying to signal something for us?

BRAD SMITH: No, not at all.

BRIAN SOZZI: Gotcha