Airbnb, a global hotel booking platform, is up 7.6% this year, according to data from Bloomberg, while the online travel platform has posted a net loss of $6.9 billion for the year.
The gains come after Airbnb and its parent company, technology giant Intel Corp., said earlier this year that it will begin sharing the data collected by its mobile app and website with the Securities and Exchange Commission.
IBIO, which owns hotel booking site TripAdvisor, is forecast to post a net profit of $1.6 billion for 2017, while Slack, a social media platform and technology company that helps organize conferences and events, is set to post $1 billion in sales.
Airbnb, which launched in 2009 and has more than 2.5 million hotel rooms in more than 30 countries, is forecasting $1 trillion in hotel bookings for the 2017 fiscal year.
JetBlue and other airlines are forecast to report revenue of $5.6 trillion in fiscal 2017.
“We’re bullish on Airbnb and the broader hotel industry, which is a very exciting development,” said Michael J. McGraw, chairman of McGraw + Associates, which specializes in corporate and investment banking.
“Our view is that the hotel industry is in for a very strong year in 2017 and that’s an important signal for investors, because hotel occupancy is rising, hotel bookers are booking more, and the industry is growing,” he added.
The shares of the tech companies, which have both been criticized by regulators for their lax disclosure of information about their operations, rose 6% in morning trading on the New York Stock Exchange.
Airbnb and JetBlue were among the first companies to publicly disclose their earnings last week, and McGraw and his colleagues have said they expect to report similar results this year.