ABNB ARM HOOD TTD HUBS CART First Takes

ABNB -7%: Q1 looks okbut Q2 guide looks weak

Q1 Nights +9.5% a slight miss vs bogeys of 10-11%. 3p data had been showing an accel in Q2 so far so bulls will wonder why the Q2 so weak and some bulls were hoping for EBITDA margin expansion in Q2 and guide is for EBITDA flat to up, which is more in line. Depends what they see re: fx for weaker Q2. down MSD/HSD seems best guess here for me.

$ABNB GUIDANCE: Q2
Guides revenue $2.68B to $2.74B, EST $2.74B
Q2 adjusted EBITDA flat to up on a nominal basis
RESULTS: Q1
Revenue $2.14B, +18% y/y, EST $2.06B
Gross booking value $22.9B, +12% y/y, EST $22.32B
ADJ EBITDA $424M, +62% y/y, EST $326.3M
ADJ EBITDA margin 20% vs. 33% q/q, EST 15.9%
EPS $0.41 vs. $0.18 y/y, EST $0.30
Nights and experiences booked 132.6M, +9.5% y/y, EST 131.81M
Gross booking value per nights and experiences booked $172.88, +2.6% y/y, EST $169.38
Free cash flow $1.91B, +21% y/y, EST $1.07B