On Wednesday, shares of Airbnb (NASDAQ: ABNB) were down over 6 per cent in pre-market after the company reported its third-quarter results and offered guidance.

ABNB posted an EPS (Earnings per Share) of USD 1.79 and revenue of USD 2.88 billion, which remained better than the consensus estimates of USD 1.44 and USD 2.84 billion, respectively. Airbnb registered 99.7 million Nights and Experiences Booked, representing 25% year-over-year growth.

The company also said the quarter marked it’s biggest and most profitable ever despite geopolitical and macroeconomic headwinds. For this quarter, Airbnb expects revenue to stand at USD 1.84 billion at the midpoint of the guidance, a slight miss compared to the USD 1.85 billion consensuses.

The company said that, on a year-over-year basis, it expects Nights and Experiences Booked growth will moderate slightly relative to the third quarter of 2022, while ADR will face some pressure from FX headwinds and business mix.

Goldman Sachs analysts said ABNB delivered solid results, although the guidance suggests travel growth is decelerating. The analysts have a Sell rating on ABNB stock with a USD 98 per share price target.

Founded in 2008, San Francisco-based Airbnb operates an online marketplace focused on short-term homestays and experiences.