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Airbnb Shares Drop Over 7% Amid Slower Growth Outlook and Travel Demand Concerns

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Airbnb’s shares fell more than 7% on Thursday after the company projected slower growth in the second half of the year, raising concerns about a potential travel demand slowdown. This came as a disappointment to investors who had anticipated a rebound, especially after positive forecasts from major travel firms.

The company cited the impact of tariffs on its third-quarter margins, noting that the tariff shock in April led to a significant drop in bookings. The outlook contrasts with recent optimism in the travel sector, where United Airlines and Hilton Worldwide both predicted rising bookings and strong year-end revenue, and Booking Holdings reported robust quarterly results.

Airbnb said its weaker forecast was partly due to tough comparisons with last year, when a surge in bookings from Asia and Latin America boosted earnings. The platform expects growth in night bookings to slow year-over-year in the fourth quarter, with its implied take rate — revenue relative to gross bookings — likely staying flat in Q3.

So far in 2025, Airbnb and Expedia shares have each slipped 0.6%, while Booking Holdings has gained 11.4%. Valuation-wise, Airbnb trades at a forward price-to-earnings multiple of 28.41, compared to Booking’s 22.69 and Expedia’s 11.57.

Sony Raises Full-Year Profit Forecast, Cites Lower Tariff Impact and Strong Gaming Performance

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Sony has increased its full-year operating profit forecast by 4% to 1.33 trillion yen ($9.01 billion), driven by a smaller-than-expected impact from U.S. tariffs and strong sales in its gaming division.

The company now anticipates tariffs will reduce profits by 70 billion yen, down from the 100 billion yen estimated in May. CFO Lin Tao noted that tariff rates remain fluid, especially regarding product-specific duties, and expects further uncertainty and potential tariff impacts in the second half of the fiscal year.

Sony’s gaming segment showed significant strength, with operating profit more than doubling to 148 billion yen in the April-June quarter. The rise was fueled by increased sales of network services and third-party games. The company sold 2.5 million PlayStation 5 consoles in the quarter, marking a 4% year-on-year increase. New game releases like “Death Stranding 2: On The Beach” received positive reviews, while “Ghost of Yotei” is scheduled for October.

Shares rose 4% following the earnings announcement, contributing to a roughly 15% gain in Sony’s stock year-to-date. Analysts observe Sony’s growing dominance in high-fidelity gaming, competing more directly with PC gaming than Xbox.

Sony also announced plans to reduce its stake in its financial services unit to below 20%, with a partial spin-off and Tokyo listing scheduled for September 29.

Peloton Announces Job Cuts and Strong 2026 Revenue Forecast, Shares Jump Over 11%

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Peloton Interactive has announced plans to cut 6% of its global workforce as part of ongoing cost-saving measures amid its turnaround effort. The exercise bike maker also forecasted its 2026 revenue to exceed expectations, contributing to an 11% rise in its shares.

The company reported a surprise profit in the fourth quarter, posting 5 cents per share compared to analysts’ predicted loss of 6 cents. Quarterly revenue reached $606.9 million, surpassing the anticipated $579.8 million.

Peloton’s CEO, Peter Stern, who joined in January from Ford Motor, initiated the turnaround after a sales slump of the company’s high-end bikes and treadmills following the COVID lockdown surge. The company’s efforts have already reduced operating expenses by 20% and general and administrative expenses by 33% year-over-year.

To offset rising costs from tariffs imposed by the Trump administration, Peloton plans to “adjust prices.” These tariffs are expected to reduce its 2026 free cash flow by $65 million. Additionally, planned layoffs, office relocations, and indirect cost reductions are projected to save an extra $100 million by the end of the next fiscal year. About half of these savings have already been realized through workforce reductions.

Peloton forecasted 2026 revenue between $2.4 billion and $2.5 billion, surpassing analyst estimates of $2.41 billion. The gross margin on its connected fitness products increased by 9 percentage points to 17.3%, with gross profit nearly doubling to $34.4 million.