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The Prof G Pod with Scott Galloway
Prof G Markets: Arm’s AI Rally, Lyft’s Earnings Mistake, and Airbnb’s Trading Premium
Feb 19, 2024
Prof G discusses Airbnb's stock drop post-strong earnings, Lyft's typo in earnings report, and questions Arm's rally being AI hype. Insights on market volatility, investment moves, and personal time enhancement. Dive into earnings performance, stock management mistakes, NetSuite benefits, Arm's AI transition, and speculations on upcoming company earnings reports.
47:41
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Quick takeaways
- Airbnb's stock fell despite strong earnings due to a one-time expense related to a tax settlement, while Lyft's earnings report typo caused a temporary dip in its share price.
- Arm's stock surged 50% post-earnings, but concerns over its valuation arise as it now trades at 90 times forward earnings with only a 14% revenue growth, sparking speculation of AI washing.
Deep dives
Airbnb reports better than expected earnings with revenue up 17%
Airbnb reported better than expected earnings for the fourth quarter with revenue up 17% from a year earlier. The number of nights and experiences booked were up 12%, also surpassing expectations. Despite a one-time expense related to a tax settlement, the company reported a net loss of $350 million for the quarter compared to net income of $320 million a year ago. The stock initially dipped 4% but recovered, and now sits at a record high.
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