Online accommodations platform Airbnb (NASDAQ:ABNB) will be reporting results tomorrow after the bell. Here's what investors should know.

Airbnb beat analysts' revenue expectations by 2.5% last quarter, reporting revenues of $2.22 billion, up 16.6% year on year. It was a decent quarter for the company, with revenue exceeding expectations on better-than-expected 'Nights & Experiences Booked' (a key volume metric). On the other hand, its revenue growth slowed. Additionally, the company guided to adjusted EBITDA margins of "at least 35%" due to investments in "incremental growth opportunities", below expectations of a margin slightly over 36%.

Is Airbnb a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Airbnb's revenue to grow 13.4% year on year to $2.06 billion, slowing from the 20.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Airbnb has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.

Looking at Airbnb's peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Expedia delivered year-on-year revenue growth of 8.4%, beating analysts' expectations by 2.8%, and Booking reported revenues up 16.9%, topping estimates by 3.7%. Expedia traded down 15.3% following the results while Booking was up 2.7%.

Read our full analysis of Expedia's results here and Booking's results here.

Investors in the consumer internet segment have had steady hands going into earnings, with share prices flat over the last month. Airbnb is up 1.2% during the same time and is heading into earnings with an average analyst price target of $151.9 (compared to the current share price of $162.2).

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