After the bell, Airbnb, a home-stay company, and DoorDash, an on-demand delivery service, reported today their quarterly results.Both were severely affected by COVID-19. Airbnb suffered a major setback in 2020, when its revenues plummeted during early lockdowns. This forced the company to raise capital and save its money. As the year went on, the company began to recover and eventually became an IPO.DoorDash managed to achieve a remarkable 2020, with people staying home and ordering in. We received both reports the same day so let's take a look at them and see what COVID may have done to their results.Airbnb Q2Airbnb reported second quarter revenues of $1.3Billion. This compares with its Q2 2020 results of $335M and its 2019 Q2 revenue totals of $1.21B. Airbnb's Q2 2020 revenue increased 299% and 10% respectively, compared to the company's 2019 Q2 revenues.Analysts expected revenue of $1.23 trillion for this period.Airbnb lost $68 Million in the quarter, after taking into account all costs. Adjusted EBITDA, which is a modified profit metric, was $217 million for the company. In Q2 2021, cash from operations was $791 million. Here's what Airbnb has to say about its future revenue outlook.We expect Q3 2021 to be our strongest quarter ever and to produce the highest Adjusted EBITDA dollars, and the largest margins.How did the market react to Airbnb's higher-than-expected growth rate, rising adjusted profit, falling net loss, massive cash generation, and expectation of record-breaking Q3 revenue? Bidding down its shares. After-hours trading is a good way to get Airbnb down around 4.5%Are you confused? Investors might be concerned by the following note from the company (also from its earnings letter guidance section):We expect that COVID-19, the introduction and spread new viruses, including the Delta variant of the virus, will have a significant impact on travel behavior in the short-term. This will include how frequently and when guests cancel and book. Year-over-year comparisons of Nights and Experiences booked and GBV will be volatile and non-linear.Although Q3 2021 looks great for Airbnb it seems that its future growth may be slow or even impossible due to the ongoing pandemic. Public indicators point to declining travel rates, which could have an impact on Airbnb.Comparable to last year, the company's Q2 and Q3 results are quite impressive. It doesn't necessarily mean it is out of the COVID woods.DoorDashs Q2DoorDash set new records in terms of both orders and value despite lower COVID friction during Q2 2021. The on-demand food delivery service turned $10.46 Billion in marketplace GOV (order value) into $1.24 Billion in total revenue in the three-month period ending June 30, 2021. DoorDash's revenue grew by 83%, and the marketplace GOV was 70% higher than Q2 2020.Investors expected DoorDash to make $1.08 billion in total revenue, but DoorDash surpassed expectations.How profitable was DoorDash in the third quarter? DoorDash lost $102 million overall. DoorDash made $113 million profit in Q2 2021, according to adjusted EBITDA. This is not bad considering that Uber can't achieve the same feat with its food delivery business. DoorDash's net income in Q2 2020 was lower than that of Q2 2020, but its adjusted EBITDA increased.After-hours trading saw DoorDash shares fall by 3.5%Why? It's not clear. It's not clear. DoorDash stated that Q3 Marketplace GOV would be between $9.3 billion and $9.8 billion. Q3 Adjusted EBITDA will range from $0 million to $100 millions. Investors were expecting DoorDash to post lower Q3 revenue than Q2. So you might think that GOV expectations were less modest.Is COVID the solution? COVID-19 is often mentioned in the company's earnings document. It refers to historical efforts and trailing results to help restaurants who use DoorDash to order or deliver. There isn't much juice there. The company did however state the following at the end of the report:The broad secular shift towards omni-channel local commerce is still in its infancy, according to our view. The scale and fragmentation in local commerce means that the problem of solving them will be more difficult. Coordination between internal and outside stakeholders will become more complicated, and there will be more opportunities for competition. We also expect that the rate of change in consumer behavior will slow down compared to the rapid pace of recent quarters.DoorDash's future outlook is simple: DoorDash anticipates lower growth, a more complicated business climate, and increasing competition as it enters new market. We don't think this is a combination that would make investors more excited.
