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Airbnb (ABNB) stock pushed higher late Thursday after the travel booking firm reported mixed second-quarter results. Investors shrugged off lower-than-expected earnings as Airbnb's bookings and forecast beat estimates. Airbnb said that it earned $2.21 per share for the September-ended quarter, up 4% from a year earlier. That was short of the $2.31 cents per share that analysts polled by FactSet forecast. Sales increased 10% to $4.1 billion, compared to analyst estimates of $4.08 billion. The gross value of bookings on Airbnb's platform increased 14% to $22.9 billion. Analysts were projecting the company would post gross bookings of $21.93 billion. For the current quarter, Airbnb guided for sales of $2.69 billion at the midpoint of its range, compared to estimates of $2.67 billion. "In October, we continued to see strong demand despite more difficult year-over-year comparisons," Airbnb's letter to investors said. "Specifically, we are seeing strength in longer lead time bookings, in part driven by our Reserve Now, Pay Later offering in the U.S., supporting our positive outlook for the rest of the year." Airbnb Shares Higher After Report On the stock market today, Airbnb stock gained more than 5% to 126.70 in after-hours trades. Shares fell 1.6% during regular hours trading. Coming into Thursday's report, Airbnb stock was down just under 8% year to date. Airbnb stock has struggled amid concerns about the U.S. travel market. Shares also fell following Airbnb's Q2 report, after the company detailed plans to scale up investment in new businesses, such as offering a broader range of experiences to guests using its platform. Coming into its Q3 report, Airbnb stock had an IBD Composite Rating of 47 out a best-possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better. YOU MAY ALSO LIKE: DoorDash Stock Sinks On Spending Plan. Analysts Say Food-Delivery Firm Has 'Right To Invest.' Top Growth Stocks To Buy And Watch Learn How To Time The Market With IBD's ETF Market Strategy Find The Best Long-Term Investments With IBD Long-Term Leaders
