Wednesday’s Headlines: No Slowdown For Airbnb

Wednesday’s Headlines: No Slowdown For Airbnb

Morning folks! The answer to yesterday’s anagram was Charlie Munger.

Can you get today’s anagram?

knives art

Hint: Known as the ‘innovation fund’

Visit us on Twitter @MyWallStHQ if you think you have the answer.

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Sea Limited (SE) +15.8%

Zillow (Z) +12.2%

Lemonade (LMND) +11.2%

Cloudflare (NET) +9.3%

Baozun (BZUN) +7.9%

Moving Down ⬇️

Constellation Brands (STZ) -6.1%

Calavo Growers (CVGW) -1.1%

Yext (YEXT) -0.6%

Coupa Software (COUP) -0.4%

American Tower (AMT) -0.4%

1. Airbnb (ABNB) reported Q4 revenue of $1.5 billion, an 80% year-over-year (YoY) increase. Total revenues in 2021 surpassed 2019 levels, and net income was a record for Q4 coming in at $55 million v.s. a $3.9 billion loss in Q4 2020. Since its IPO, Airbnb has now beat on 3 out of its 5 earnings reports — and this comes in the midst of a global pandemic — it has not only coped but is maintaining double-digit growth. CEO Brian Chesky pointed to the fact that travelers are choosing to extend their stays on the platform, and that the company will continuously innovate to make living on Airbnb a viable option. It has guided for between $1.41 billion and $1.48 billion in revenue for Q1 2022, well ahead of analyst estimates of $1.24 billion.  Read the full press report here.

2. Upstart (UPST) had a knockout quarter that has sent shares rocketing more than 25% after-hours. As one of the hardest-hit stocks of late, Upstart demonstrated that there was no slackening of its rapid growth, reporting a 252% increase in revenue YoY to $305 million. Net income came in at $58.9 million, a massive increase from $1 million reported in the year prior. CEO David Girouard, commented on the company’s triple-digit revenue growth stating “AI lending came to the forefront, kicking off the most impactful transformation of credit in decades”. The company announced that AI lending is just the beginning and that its next frontier will be auto loans, which will continue to drive growth in the future. Read the full press release here.

3. Disney (DIS) has appointed Mike White to take the lead for its metaverse ambitions. White has 25 years of industry experience, has held previous roles as director of strategy and technology at Yahoo, and served as the CTO of Apollo Group prior to joining Disney in 2011. Recent statistics have projected that the metaverse could be an $800 billion opportunity by 2024, and Disney is now in a favourable position to take advantage of its catalog of intellectual property. CEO Bob Chapek states there is “an opportunity to connect those universes and create an entirely new paradigm for how audiences experience and engage with our stories.” Read the full article here.

One more earnings from last night:

Wynn Resorts (WYNN)
Wynn Resorts is seeing a stronger uptick in its casino business, recording operating revenues of $1.05 billion for Q4 2021, a 54% increase YoY. Its net loss narrowed to $177 million, compared to last year’s $270 million loss. CEO Craig Billings noted “we remain confident that the market will benefit from the return of visitation over the coming quarters”. Read the full press release here.

There are 5 companies on the MyWallSt shortlist that will report earnings today:

Boston Beer Company (SAM)
Shopify (SHOP) (WIX)
Trupanion (TRUP)
The Trade Desk (TTD)
Redfin (RDFN)

Get this week’s full earnings calendar here. 

David GranahanDavid Granahan

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