Tripadvisor, Airbnb slump after results as economic worries weigh on demand

Trip.com

07/08/2024 09:55

** Shares of Tripadvisor  TRIP.O  and Airbnb  ABNB.O  slump
after results
    ** ABNB falls 16% to $109.54, TRIP down 13.5% at $14.11
    ** Airbnb forecast Q3 revenue below estimates and warned of
shorter booking windows, suggesting travelers were waiting until
the last minute to book due to economic uncertainty
    ** TRIP missed Q2 revenue estimates on hotel bookings still
facing weak demand since April    
    ** We also see some signs and signals around narrowing
international booking windows and moderated pricing -
Tripadvisor CEO Matthew Goldberg
    ** Booking  BKNG.O  also said earlier this month that lead
times had shrunk in Q2 and were expected to shrink further in Q3
    ** YTD, TRIP down 24% while ABNB has slipped 4.2%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))