Airbnb’s 2024 Summer Forecast

And, Robinhood’s cryptocurrency revenue.

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Today is Thursday, May 9, 2024.

The Early Bird Index today is 70.01.

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Airbnb’s 2024 Summer Forecast

Despite posting good financial results, Airbnb (Nasdaq; ABNB) fell by 8.44% in after-hours trading on Wednesday.

Financials: Airbnb reported earnings of 41 cents per share in the past quarter and revenue of $2.14 billion; both were better than expected.

Powering the Story: The company expects revenue to increase by 8% to 10% in the current quarter. Given that this quarter includes the busy summer travel season, this outlook disappointed investors.

Final Thoughts: Despite Airbnb bragging about “robust demand” for summer travel, investors aren’t buying it.

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Notable Earnings Today: Roblox (NYSE: RBLX), Hanesbrands (NYSE: HBI), Marathon Digital Holdings (Nasdaq: MARA), Sweetgreen (NYSE: SG), Warner Bros. Discovery (Nasdaq: WBD), Fiverr (NYSE: FVRR), Medical Properties Trust (NYSE: MPW), Unity Software (NYSE: U), GoodRx (Nasdaq: GDRX), Hyatt Hotels (NYSE: H), Krispy Kreme (Nasdaq: DNUT), Papa John's (Nasdaq: PZZA), H&R Block (NYSE: HRB), Constellation Energy (Nasdaq: CEG), Madison Square Garden Entertainment (NYSE: MSGE), Canadian Solar (Nasdaq: CSIQ), Plug Power (Nasdaq: PLUG), ZipRecruiter (NYSE: ZIP), Blink Charging (Nasdaq: BLNK), indie Semiconductor (Nasdaq: INDI), Planet Fitness (NYSE: PLNT), Dropbox (Nasdaq: DBX), SoundHound AI (Nasdaq: SOUN), Hilton Grand Vacations (NYSE: HGV), Six Flags (NYSE: SIX), Warby Parker (NYSE: WRBY), Array Technologies (Nasdaq: ARRY), ADMA Biologics (Nasdaq: ADMA), Akamai Technologies (Nasdaq: AKAM), (Nasdaq: ALRM), Allegro Microsystems (Nasdaq: ALGM), Americold Realty Trust (NYSE: COLD), Amicus Therapeutics (Nasdaq: FOLD), AMN Healthcare (NYSE: AMN), Amplitude (Nasdaq: AMPL), Applied Optoelectronics (Nasdaq: AAOI), Arlo Technologies (NYSE: ARLO), Arrowhead Pharmaceuticals (Nasdaq: ARWR), Babcock & Wilcox Enterprises (NYSE: BW), Berry Global (NYSE: BERY), BigCommerce (Nasdaq: BIGC), Bloom Energy (NYSE: BE), Brookfield (NYSE: BN), CarGurus (Nasdaq: CARG), (NYSE: CARS), Cedar Fair (NYSE: FUN), Cerence (Nasdaq: CRNC), Ceva (Nasdaq: CEVA), Charles River (NYSE: CRL), Chuy's (Nasdaq: CHUY), CleanSpark (Nasdaq: CLSK), Clearway Energy (NYSE: CWEN), Cronos Group (Nasdaq: CRON), Cogent Communications (Nasdaq: CCOI), Collegium Pharmaceutical (Nasdaq: COLL), Diodes (Nasdaq: DIOD), EverCommerce (Nasdaq: EVCM), Evergy (Nasdaq: EVRG), Expensify (Nasdaq: EXFY), First Advantage (Nasdaq: FA), Funko (Nasdaq: FNKO), Gen Digital (Nasdaq: GEN), Genpact (NYSE: G), GigaCloud Technology (Nasdaq: GCT), Green Dot (NYSE: GDOT), Guardant Health (Nasdaq: GH), Haemonetics (NYSE: HAE), Health Catalyst (Nasdaq: HCAT), Himax Technologies (Nasdaq: HIMX), Installed Building Products (NYSE: IBP), Intellia Therapeutics (Nasdaq: NTLA), Ironwood Pharmaceuticals (Nasdaq: IRWD), Janus International Group (NYSE: JBI), JFrog (Nasdaq: FROG), N-able (NYSE: NABL), Navitas Semiconductor (Nasdaq: NVTS), NetScout Systems (Nasdaq: NTCT), Nexstar Media Group (Nasdaq: NXST), Nomad Foods (NYSE: NOMD), Pacific Biosciences (Nasdaq: PACB), PAR Technology (NYSE: PAR), Playtika (Nasdaq: PLTK), Privia Health (Nasdaq: PRVA), Progyny (Nasdaq: PGNY Rackspace Technology (Nasdaq: RXT), Sally Beauty (NYSE: SBH), Savers Value Village (NYSE: SVV), SharkNinja (NYSE: SN), Spectrum Brands (NYSE: SPB), SNDL (Nasdaq: SNDL), Stevanato Group (NYSE: STVN), Synaptics (Nasdaq: SYNA), Tapestry (NYSE: TPR), TechTarget (Nasdaq: TTGT), The Beauty Health Company (Nasdaq: SKIN), Tower Semiconductor (Nadsaq: TSEM), Trex (NYSE: TREX), US Foods (NYSE: USFD), Viatris (Nasdaq: VTRS), Vuzix (Nasdaq: VUZI), Warner Music Group (Nasdaq: WMG), Westrock Coffee Company (Nasdaq: WEST), Xenon Pharmaceuticals (Nasdaq: XENE), Yelp (NYSE: YELP), YETI Holdings (NYSE: YETI).

Notable IPOs Today: Silvaco Group, Inc. Common Stock (Nasdaq: SVCO), Ferrovial SE Ordinary Shares (Nasdaq: FER), Proficient Auto Logistics, Inc. Common Stock (Nasdaq: PAL). 

Notable Equity Crowdfunding Campaigns Ending Today: Create Marketplace (ChainRaise), Ouckah (Oversubscribe).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Fed's Balance Sheet (4:30 p.m. ET).

Robinhood’s Cryptocurrency Revenue

Robinhood (Nasdaq: HOOD) jumped 4.20% in after-hours trading on Wednesday after the fintech company reported record revenues of $618 million.

Powering the Story: Transaction revenue jumped 59% thanks to cryptocurrency revenue surging by 232%.

Final Thoughts: Robinhood, up 44% in 2024, is having a strong year.

Arm’s Unimpressive Outlook

Semiconductor company Arm Holdings (Nasdaq: ARM) decreased by 8.99% in after-hours trading on Wednesday thanks to an unimpressive financial outlook.

Final Thoughts: Arm was previously up 53% in 2024 thanks to the AI boom. 

A Detour to Losses: Uber Swings to Loss Despite Rising Revenue (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.