One of the drawbacks of success is that investors want more. In many ways, online homestay marketplace Airbnb Inc (NASDAQ:ABNB) revolutionized the lodging industry. In a stable sector, the company successfully integrated its business model into the sharing economy. This groundbreaking strategy has eventually led to strong earnings performances. Unfortunately, that hasn't been enough to convince skeptical investors. Still, the red ink may create an opportunity for contrarian traders.
For the second quarter, Airbnb reported a 13% year-over-year lift in revenue to $3.1 billion, beating Wall Street analysts' consensus view of $3.03 billion. In the year-ago period, the company generated sales of $2.75 billion. On the bottom line, management disclosed earnings of $1.03 per share, jumping above the consensus estimate of 93 cents per share. Last year, the company posted 86 cents.
