Movers: Airbnb, Akamai, Fannie Mae, GoDaddy, NerdWallet, SimilarWeb, Tripadvisor

Scott Peters
15 Feb, 2023
New York City

Airbnb, Inc increased 14.2% to $138.12 after the online booking platform operator reported a sharp rise in quarterly earnings on the back of a surge in travel.  

Airbnb said revenue in the fourth quarter increased 24% to $1.9 billion and net income soared nearly six-fold to $319 million from $55 million and diluted earnings per share increased to 48 cents from 8 cents a year ago.

Airbnb said gross bookings volume rose 20% to $13.5 billion in the fourth quarter and jumped 35% to $63.2 billion in 2022. Nights and experiences soared 20% to 88.2 million and advanced 31% to 393.7 million in 2022.

Akamai Technologies, Inc plunged 10.3% to $78.71  after the content networking and cloud computing company reported a fall in earnings. 

Akamai said fourth quarter revenue increased 2% to $927.8 million and net income dropped 19.8% to $128.7 million from $160.5 million and diluted EPS fell to 82 cents from 97 cents a year ago. 

The company said in a call with investors that it plans to accelerate its push in cloud computing and shift its focus from security, raising the prospect of direct competitions with larger players Google and Microsoft and Oracle.  

In 2022, revenue increased 4% to $3.6 billion from $3.4 billion and net income fell 19.6% to $523.6 million from $651.6 million and diluted EPS fell to $3.26 from $3.93 a year ago.

Akamai spent $178 million in the fourth quarter of 2022 to repurchase 2.1 million shares of its common stock at an average price of $86.50 per share and in full-year 2022 spent $608 million to repurchase 6.4 million shares at an average price of $94.96 per share. 

The company had 156 million shares of common stock outstanding as of December 31, 2022.

Federal National Mortgage Association or Fannie Mae increased 1.5% to 48 cents after the government-controlled housing lender reported a sharp decline in earnings but an increase in net worth. 

Fannie Mae said revenue in 2022 declined 1% to $29.7 billion and net income plunged 42% to $12.9 billion from $22.2 billion and diluted earnings per share was zero compared to 1 cent a year ago. 

Revenue in the fourth quarter declined 1% to $7.1 billion and net income fell 41% to $1.4 billion from $2.4 billion in the previous year.

GoDaddy Inc decreased 0.3% to $80.80 after the company forecasted weak revenue outlook for 2023. 

GoDaddy said revenue in the fourth quarter increased 2% to $1.04 billion and net income rose 7.3% to $93.8 million from $87.4 million and diluted EPS rose to 60 cents from 52 cents a year ago. 

In 2022, revenue increased to $4.09 billion from $3.8 billion and net income increased to $352.9 million from $242.8 million and diluted EPS rose to $2.19 from $1.42 a year ago.

GoDaddy forecasted revenue in the first quarter 2023 to increase in the range of $1.030 billion to $1.050 billion, representing a growth of 4% at the midpoint from 2021 and full-year revenue in the range of $4.250 billion to $4.325 billion, representing a growth of 5% at the midpoint, versus the $4.09 billion in 2022.

NerdWallet Inc soared 20.6% to $17.23 after the consumer finance company reported higher-than-expected revenue in its latest quarter. 

NerdWallet said revenue in the fourth quarter increased 43% to $142 million and the company swung to a net income of $8.9 million from a loss of $7.9 million and diluted EPS was 12 cents compared to a loss of 13 cents a year ago. 

In 2022, revenue increased 42% to $538.9 million and net loss shrank 76% to $10.2 million from $42.5 million or 14 cents from 82 cents a year ago.

SimilarWeb Ltd was unchanged at $6.75 after the web analytics company reported a smaller loss in its latest quarter. 

SimilarWeb said revenue in the fourth quarter increased 28% to $51.3 million and net income loss shrank to $15 million from $23.8 million or 20 cents from 32 cents a year ago. 

In 2022, revenue increased 40% to $193.2 million and net loss rose to $83.7 million from $68.9 million or from $1.10 from $1.30 a year ago.

The web analytics company forecasted 2023 revenue to increase 15% between $221 million and $222 million and first quarter revenue to increase 19% to between $52.5 million and $53 million. 

Tripadvisor, Inc increased 1.8% to $25.57 after the online travel agency reported a decline in quarterly loss and a rising demand for travel services. 

Tripadvisor said total revenue increased 47% to $354 million and net loss shrank to $3 million from $29 million and diluted loss per share dropped to 2 cents from 21 cents a year ago. 

Tripadvisor said fourth quarter revenue surpassed the comparable pre-pandemic period in 2019 and full-year 2022 revenue increased to 96% of the 2019 level.  

In 2022, total revenue increased 65% to $1.49 billion and the company swung to a profit of $20 million from a loss of $148 million and diluted EPS was 14 cents from a loss of $1.08 a share a year ago.