Robinhood and AirBnb deliver numbers: big moves in the aftermarket

Airbnb and Robinhood reported first-quarter results Wednesday night, both beating estimates, but moving in separate directions in aftermarket trading.

Airbnb

After the stock exchange’s closing time, Airbnb falls by almost 7 percent. The turnover of the company increased by 18 percent from 1.82 billion dollars the previous year.

• Earnings per share: 41 cents against the expected 24 cents
• Revenue: $2.14 billion versus $2.06 billion expected

The Airbnb platform expects second-quarter revenue of between $2.68 billion and $2.74 billion, which was below what the market was hoping for, and the stock fell.

The company writes that they experience a “strong demand for travel” ahead of the busy summer season, especially around upcoming events such as the Olympics.

Robinhood

Shares of Robinhood, on the other hand, rose by almost 7 percent after Wall Street closed. The financial giant announced net income of $157 million, or 18 cents per share, for the first quarter. During the same period last year, the company had a net loss of 511 million dollars, or 57 cents per share. Furthermore, they delivered a turnover of 618 million dollars, against the expected 549 million dollars

Crypto transactions accounted for $126 million in revenue in the quarter, the company said.

Robinhood surged in popularity during the Covid pandemic in 2020 and 2021, but has since seen user activity and revenue mirror the action of the wider market.