Market Updates
Movers: Airbnb, AMD, Caesars Ent, Cheesecake Factory, CVS, Estee Lauder, Rogers
Scott Peters
02 Nov, 2022
New York City
Airbnb declined 8.3% to $100.01 after the online accommodation booking platform reported better-than-expected quarterly results.
Revenue in the third quarter jumped 29% to $2.9 billion and net income soared 46% to $1.2 billion.
The company said gross booking jumped 31% to $15.6 billion on higher average daily rate and an increase in nights booked.
Nights and experiences booked rose 25% to 99.7 million from a year ago, driven by all regions but cancellation rates rose to the pre-pandemic 2019 levels.
Advanced Micro Devices jumped 3.5% to $61.74 after the semiconductor chip maker reported better-than-expected quarterly results.
Revenue in the third quarter increased 29% to $5.6 billion from $4.3 billion a year ago.
Net income plunged 93% to $66 million from $923 million and diluted earnings per share dropped to 4 cents from 75 cents a year ago.
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