Airbnb Inc. (NASDAQ: ABNB) stock is gaining in the current market after announcing the release date for Q1 results. ABNB stock is trading at $157.56, gaining more than 1% from the previous close. ABNB stock previously closed at $156.09 with a trading volume of 4.47 million shares.
Global Travel Solution Industry Dynamics
All industries have seen tremendous development as a result of digitalization. A similar thing has occurred in the field of travel as well. Consumers’ lives have been made easier due to the rise of firms that provide online travel solutions. Online solutions, for example, have contributed to a rise in tourism.
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The tourist sector had suffered a significant setback in 2020 due to a pandemic caused by the covid-19 virus. Everyone was confined to their residences. This was one of the numerous industries that were impacted by the crisis.
According to estimations, the market for online travel solutions was worth around $354.2 billion in 2020. According to industry analysts, the market will reach $1.8 trillion by 2031, representing a compound annual growth rate of 14.8%.
ABNB: Q1 Results Announcement
ABNB announced on April 19, 2022, that they would release their results for the first quarter of 2022 on Tuesday, May 03, 2022. The company will announce results when the market closes on May 03, 2022.
Its management will host a conference call to discuss the corporate updates with investors. The company will release financial results before the call. The timings of the conference call are 5:30 p.m. EST/ 2:30 p.m. PST.
The investors are expecting better results in the first quarter. Although, the industry saw a decline the previous year due to the Delta variant and then the Omicron Variant, which slowed the business. The industry is recovering from the decline, and the investors expect a significant increase in the operations.