There aren’t many businesses that have disrupted entire categories to the point that their name has become a verb. But that is precisely what Airbnb (ABNB -4.74%) has accomplished.
The alternative accommodations platform hasn’t worked out well for investors, though. While its market cap is in the neighborhood of $87 billion, the stock has climbed just 2% this year and trades 36% below the peak it reached in February 2021.
You might be thinking about adding this growth stock to your portfolio on that weakness. Before you do so, here are three things you need to know about Airbnb.
Airbnb’s latest financial update revealed softer growth. During the third quarter, revenue rose 10% year over year to $3.7 billion, a marked deceleration from the 18% gain posted in all of 2023 and 40% in 2022. The third quarter’s top-line bump was driven by a 10% increase in gross booking value.
It’s not surprising for growth to slow as a…
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