Airbnb Is at an Inflection Point as Travel Demand Returns

Airbnb Inc. (ABNB, Financial) reported its full-year 2023 earnings last week, and the results were much better than expected. The company divulged that travel demand surpassed expectations and there were indications in its metrics that implied demand would sustain throughout the year. In addition, the San Francisco-based company announced a $6 billion share buyback program. This is a new buyback program in addition to the $2.25 billion worth of shares it had already repurchased using its own free cash. With ...