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- Revenue for Q2 grew by 11% to $2.75bn, driven by 9% volume growth and 2% rate increases.
- Investors worried about slowing growth for Q3 (8-10% guidance was given), but we still think its accommodation network of over 5 million hosts is a powerful advantage.
- Replicating Airbnb’s network would take serious time and expense for competitors.
- Further, rates are expected to grow in the third quarter, suggesting that consumers still desire premium homes, rather than trading down.
- While the company isn’t immune from an economic slowdown, we remain attracted to the strong positioning of this network-effect business, and the influence of co-founder/CEO Brian Chesky to drive long-term growth through new products and services
“Best Buys Now” Pick #2:
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