Of Monday's premarket, Airbnb shares dipped 3.4 % on concerns that an increase in Covid-19 cases in Europe could jeopardize the company's holiday season expectations.
After a spike in instances, Austria reinstated lockdowns today, while Germany's Chancellor Angela Merkel warned the situation is worse than anything the country has seen before. To help control the spread, she advocated for stronger limits.
Last Monday, the country's health minister, Jens Spahn, said he couldn't exclude out a full lockdown again. According to a major news source, many of the country's famous outdoor Christmas markets have already been canceled for the second year in a row, and those who haven't been immunized may face curfews.
Cases are starting to rise again in several states in the United States, just as the Delta version, the fastest-spreading of the coronavirus that attacked, appeared to be fading.
The average daily case count is over 93,000, representing a 30 % increase in just 14 days.
After reporting a record-breaking third quarter, Airbnb said earlier this month that things would improve.
Gross bookings, which include room nights booked and experiences, increased 48 % year over year to $11.9 billion, according to the vacation rental company, and were also greater than the same pre-Covid period.
The company predicts revenue between $1.39 billion and $1.48 billion from October to December, up from the same time last year and the preceding quarter. Bookings for nights and experiences are expected to excel in both comparisons.