Airbnb, Inc. (NASDAQ:ABNB) shares are moving lower on Friday after the company reported worse-than-expected 2024 third-quarter earnings after the market closed on Thursday. Here's what you need to know.

What To Know: Shares fell about 2% after the bell on Thursday and continue to move lower into Friday's trading session following the release of third-quarter earnings, which included earnings per share of $2.13, missing analyst estimates of $2.16.

Furthermore, the company reported sales of $3.70 billion, representing a 10% year-over-year increase but missing analyst estimates of $3.72 billion. Airbnb attributed the increase in sales to a growth nights stayed and a growth in Average Daily Rates (ADR).

The company reported other key pieces of financial data, such as adjusted EBITDA of $2.0 billion and free cash flow of $1.1 billion. The free cash flow figure represents a free cash flow margin of 29%.

Airbnb also announced some important business metrics. The company reported ADR is $164 for the third-quarter. In addition, it announced $20.1 billion in Gross Booking Value and $122.8 million in Nights and Experiences Booked.

Throughout the third quarter, company re-purchased $1.1 billion worth of its Class A common stock. Airbnb has $4.2 billion under its current share repurchase authorization.

Lastly, Airbnb issued guidance for the 2024 fourth-quarter. It expects revenue between $2.39 billion and $2.44 billion versus analyst estimates of $3.71 billion.

ABNB Price Action: Airbnb stock is trading 8.37% lower at $135.06, according to data from Benzinga Pro.

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