“As the vaccine is rolled out and restrictions lift, we expect there will be a significant travel rebound,” the firm wrote in the letter.
But there’s some trigger for concern forward. While the firm stated it hopes “markets will begin to open up soon,” it additionally hinted at a ensuing unfavourable influence on its enterprise. DoorDash stated that this return to regular may lead to “declines in consumer engagement and average order values, though the precise amount remains unclear.”
While shares of Airbnb had been basically flat in after-hours buying and selling Thursday following the earnings report, DoorDash inventory fell greater than 11%. Both corporations stay nicely above their IPO costs.
For now, each corporations proceed to face challenges.
Airbnb, in the meantime, posted a staggering lack of $3.9 billion in the fourth quarter, with $2.8 billion of that associated to stock-based compensation. The firm stated it misplaced $4.6 billion in 2020.
In its earnings report, Airbnb centered on the undeniable fact that its income for the fourth quarter was down “only 22% year-over-year, demonstrating Airbnb’s resilience.” It introduced in income of $859 million in the fourth quarter, regardless of surges in coronavirus instances.