Disney Reported Successful Earnings and Airbnb Concerned About the Delta Variant
Disney is one of the most popular stocks for an obvious reason: it’s Disney! Their amusement parks have millions of visitors every year, and the movies the company has produced have been some of the best. Disney is one of the largest companies in the world with a market cap of $325.757 billion, while also being heavily diversified.
On Thursday, Disney reported their heavily awaited earnings. They earned a profit of 80 cents per share, which blew past expectations, and they reported $17.02 billion in revenue, which slightly beat expectations. For the first time since the pandemic started, Disney’s parks and attractions segment returned to profitability, which was a promising sign, and Disney+ continued to dominate the streaming market. Disney investors loved the news as the stock price rose to $189.28, up 5.53% after hours.
Airbnb has also been one of the most popular companies in the last decade. They provide a platform for people to choose homes for vacation rentals and find lodging during vacation. They have a market cap of $93.339 billion, which is very high considering it entered the market in November 2020 through an IPO.
On Thursday, Airbnb reported their quarterly earnings after the closing bell rang. The numbers were good, with an 11 cent per share loss crushing analyst expectations and revenue numbers barely beating expectations with $1.335 billion this quarter. Along with this, Airbnb’s gross bookings beat Wall Street expectations with $13.4 billion. However, the highlight of the report was the Delta variant, which caused them to adjust their guidance for the third quarter to the point where numbers will fall short of where they were in 2019. This hampered the news, which caused Airbnb to fall to $143.90 after hours, down 4.9%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.