On November 5, Airbnb raised its annual revenue growth forecast, citing resilient global travel demand. The results pointed to a recovery extending into short-term rentals, in line with the performance of major hotel chains such as Marriott and Hilton. On November 6, Airbnb topped financial forecasts and its shares surged 11%. Elsewhere, Microchip beat estimates but cut its guidance, while Charter Communications, Humana, and Fluor reported results.
The stock rose after third-quarter revenue grew 19% to $4.87 billion, while the company lifted its full-year outlook to the high teens as bookings remained strong.
Read the full storyQuarterly revenue reached $4.9 billion, while the company expects annual growth of 16% to 18% in the fourth quarter and continues investing in expanding its platform.