Airbnb CEO and designer at heart, Brian Chesky shares some interesting perspectives on the future of work culture, having led the company through the pandemic and released Q1 earnings that matched pre-COVID levels.
What he's saying: “If the office didn't exist, I like to ask, would we invent it? And if we invented it, what would it be invented for?” asked Chesky during a recent TIME interview. “The solution is going to be a true hybrid, not three days in the office. It’s going to be total flexibility, and then gathering in an immersive way when you need. This is going to be how most technology companies will operate. And I believe almost every company will be a technology company in 10 years.”
By the numbers:
- Revenue in the Q1 was up 70% from a year earlier, despite “macroeconomic headwinds” and other concerns. Airbnb’s net loss narrowed to $19 million from $1.2 billion.
- Airbnb reported 102.1 million nights and experiences booked, surpassing pre-pandemic levels and analyst expectations.
What's next: Airbnb is expecting a strong summer as travel continues to rebound from the pandemic. Growth is expected to stay strong in the current quarter. Airbnb said revenue will be between $2.03 billion and $2.13 billion, topping analysts’ average estimate of $1.96 billion
My position: Bullish, but still want some cushion against the macro factors dragging everything down this year.
$ABNB credit spread: Buy 1 $140 c, Sell 1 $165 c, Sell 2 $85 p, Exp 6/16/23
This strategy has a 91.4% win probability and can make up to 16.6% (14.8% annualized) with 41% cushion ($84 breakeven)
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