Airbnb Is at an Inflection Point as Travel Demand Returns
Airbnb Inc. reported its full-year 2023 earnings last week, and the results were much better than expected. The company divulged that travel demand surpassed expectations and there were indications in its metrics that implied demand would sustain throughout the year.GuruFocus has detected 6 Warning Signs with ABNB.In addition, the San Francisco-based company announced a $6 billion share buyback program. This is a new buyback program in addition to the $2.25 billion worth of shares it had already repurchased using its own free cash.With demand returning and the company firing on all of its financial metrics, I believe this travel experience company's stock is now at the turn of the tide with room to grow.While reviewing the underlying metrics, I noticed many indicators that looked a lot healthier. Longer-term stays of 28 days on the platform accounted for 19% of gross nights booked sequentially, increasing from the 18% level seen in the prior quarter. Ev