United Airlines CEO Scott Kirby warned that an extended U.S. government shutdown could negatively impact airline bookings as public confidence wanes, despite the current minimal effect on operations. The shutdown, which began on October 1 due to Congress's failure to pass funding, has raised concerns about staffing shortages at the FAA and potential disruptions in air travel, with experts warning that prolonged impasses could harm the broader U.S. economy.
Delta Air Lines' shares surged 10% after the airline reinstated its 2025 profit outlook, citing stabilized bookings and better-than-expected summer travel demand, despite lowering its full-year profit forecast due to lower demand and industry capacity glut. The airline reported strong Q2 earnings driven by premium seat sales and partnerships, and plans to continue upgrading its premium products.
ASML, a key developer of semiconductor manufacturing equipment, reported a 61% sequential drop in bookings for the first quarter, causing a downturn in semiconductor stocks. The company's CEO expects a stronger second half of 2024 as the industry recovers from the downturn, and anticipates increased orders from companies building foundries in the U.S. and government subsidies for chip factories to boost sales.
Airbnb rentals along the path of totality for the upcoming solar eclipse are nearly 90% booked, with high occupancy in areas such as Buffalo, Stowe, and Cleveland. Guests from over 100 countries are traveling to North America to witness the event, which will pass over Mexico, the United States, and Canada. Airbnb still has availability in certain areas, including Dublin, Ohio and several locations in Canada.
Carnival Corporation reported better-than-expected fourth-quarter results, with strong ongoing vacation booking trends and "record demand" persisting post-pandemic. CEO Josh Weinstein attributes this to increased advertising and onboard investments, driving "true organic demand" beyond pent-up post-COVID travel appetite. The company's world-class brand experience and delivery of memorable voyages are attracting first-time and loyal cruisers, resulting in historic volumes and pricing power.
Airbnb reported stronger-than-expected revenue of $3.40 billion for the third quarter, with net income of $1.61 billion. However, the company provided weaker-than-expected guidance for the fourth quarter, projecting revenue of $2.13 billion to $2.17 billion. Airbnb cited increased volatility and geopolitical conflicts impacting travel demand as reasons for caution. The company also highlighted efforts to lower the cost of stays for consumers and plans to enhance listing verifications in the U.S. and four other countries.
Airbnb reported smaller-than-expected nights and experiences booked in the second quarter, causing its shares to slide. The company's revenue grew 18% YoY, reaching $2.48 billion, with net income at $650 million. Gross booking value for the quarter was $19.1 billion, up 12% from last year. However, the number of nights and experiences booked, at 115.1 million, fell short of expectations. Airbnb attributed this to tough comparisons and highlighted an improvement in growth throughout the quarter. The company also introduced Rooms, offering affordable private bedrooms for rent. Airbnb's shares have risen 64% this year.
Astronomy enthusiasts are already booking hotels in Maine to witness the total solar eclipse that will occur in 2024, according to reports. The event is expected to draw a large crowd, and hotels in the path of totality are already filling up.
Shares of Carnival Corp and Norwegian Cruise Line Holdings Ltd rose as analysts anticipate continuing growth in travel demand from customers. Bookings across the cruise industry have now reached historical levels without any notable upsurge in cancellations, largely driven by pent-up demand from loyal customers returning to taking summer vacations and other leisure travel. JPMorgan upgraded Carnival shares to "overweight", while Bank of America raised its rating on the stock to "buy", and the analysts raised their price targets on all the three cruise companies.
Airbnb forecasts fewer bookings and lower average daily rates in Q2 compared to last year, as consumers seek cheaper accommodation amid high inflation and recession fears. The company's gross booking value increased 19% to $20.4 billion in Q1, but pressure on household budgets is likely to result in a decline in average daily rates in future quarters. Airbnb is facing fierce competition from rivals like Booking.com and Expedia's Vrbo, and to remain competitive, it is equipping hosts with new tools to normalize pricing and starting its marketing campaigns earlier in the year to attract cost-conscious travelers ahead of the peak summer season.
Despite concerns over the pandemic and economic recession, Airbnb has reported record bookings for the summer of 2021. The company's CEO attributes this to a shift towards domestic travel and remote work, as well as a desire for unique and affordable accommodations. However, some experts warn that the travel industry may still face challenges in the coming months.
Despite beating analyst estimates on Q1 earnings, Airbnb's shares fell by 10% in extended trading due to a cautious outlook for Q2. The company warned of tough comparables for Q2 due to pent-up demand in 2022 following the COVID Omicron variant. Airbnb reported $1.82 billion in revenue for Q1, up 20% YoY, and a net income of $117 million, marking the first time it has been profitable during its first quarter on a GAAP basis. The company reported 121.1 million nights and experiences booked in Q1, up 19% YoY, and intends to focus on making hosting on the platform just as popular as travel, providing affordable stays for guests, and increasing its presence in "less mature" international markets.
Airbnb reported a minor beat on revenue and a miss on bookings in its Q1 2023 earnings report, causing its shares to decline about 9% in after-hours trading. The company also announced a new $2.5 billion stock buyback. Despite the miss on bookings, Airbnb's Nights and Experiences Booked grew 19% in Q1 2023 compared to a year ago, and the company is looking to increase host supply. Airbnb is also increasing its brand marketing investment in more countries around the world to support the peak summer travel season.
Airbnb reported a record high in nights booked in Q1, leading to the company's first profitable start to the year on record. However, the growth forecast for Q2 is cautious, with executives cautioning that growth in nights and experiences booked will be "unfavorable" compared to the surge in travel demand seen in the year-ago quarter.
Delta Air Lines reported a Q1 net loss of $363 million, but an adjusted profit of $163 million, in line with guidance but below analyst expectations. The airline expects strong summer bookings to boost profits in the coming months.
