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The company had a solid second quarter where it beat expectations in both earnings and revenues. ABNB benefited from pent-up travel demand as people got vaccinated and many travel restrictions were lifted. The firm has also expanded into other hospitality options such as outdoor and nature activities.
ABNB also has a strong balance sheet. At the end of the second quarter, the company had $7.4 billion in cash on hand compared to no short-term debt. This led to a Quality Grade of B in our POWR Ratings system. Revenue is expected to rise 68.3% for the year, while earnings are forecasted to jump 91.2%.
