Airbnb stock drops after earnings report

Yahoo Finance's Melody Hahm breaks down Airbnb's most recent earnings report.

Video Transcript

ADAM SHAPIRO: All right, Melody Hahm has been waiting for the Airbnb earnings. They are out. Melody, what can you tell us?

MELODY HAHM: Yes. Revenue up 5% year-over-year for Airbnb. And just to put that in context, guys, Expedia and Booking reported over the last couple of weeks revenue was down 50% and 44%, respectively, at those companies. So any sort of growth in the travel industry, of course, is a win here.

Gross booking value was in at $10.3 billion, compared to an estimate of $7.47 billion. And of course, revenue at $887 million-- that's the total number there. Estimate was $719.8 million. The net loss, is still not profitable for the quarter, came in at $1.2 billion, compared to a loss of expected of $341 million. We did see free cash flow come in at $486.7 million, compared to the negative $586 million expected.

So overall, a pretty decent quarter. We do see the stock under pressure right now, down about 6%. This, as we don't really have clear cut forecast expectations for the year ahead. Executives have repeatedly said that they do not feel confident giving any sort of forecast. We do have Airbnb CEO-- I'll be speaking with Brian Chesky later on today. And that interview will be airing first thing tomorrow morning.