2 Numbers That Point to More Growth Ahead for Airbnb Stock
Nasdaq Airbnb (NASDAQ: ABNB) investors have had a very good year so far. The home and room rental specialist's stock price is up over 67% in 2023, far outpacing the 34% rally in the Nasdaq Composite. Those excellent returns are partly due to persistently high demand in the travel industry today, which has lifted sales for Airbnb as well as industry peers like Booking Holdings.
But Airbnb is benefiting from more than just a boost in room night rentals and higher earnings. Let's take a look at two other metrics that suggest a long runway for growth ahead for the stock.
1. Active listings: Let's host our house
Most investors focused on the solid demand that Airbnb reported in its last quarterly update. Gross booking value was up 13% year over year in Q2 thanks to the combination of higher demand and rising prices. In a shareholder letter, executives cited "continued strong travel demand" as a key reason why revenue rose 18% year over year to $2.5 billion in the period.
But one of management's biggest priorities is to boost the supply of homes available, and progress there was just as encouraging. Active listings in the second quarter rose 19% year over year and were higher in each of the company's regions. Airbnb added more new listings in Q2 than in any previous quarter, in fact.
