Airbnb (ABNB) posted mixed third quarter earnings results after Thursday's market, beating revenue estimates — $3.73 billion against estimates of $3.72 billion — while slightly missing on profit forecasts — $2.13 per share against estimates of $2.15.

"They are rolling out some of these really sort of intriguing, potentially large businesses over the next few years. Property management is kind of the one that's coming right now, They're talking about experiences next year," RBC Capital Markets Internet Equity Analyst Brad Erickson tells Yahoo Finance. "This is these are real revenue dollars, these can contribute — they also take a while. We don't exactly know how they're going to ramp and it's not related to that core. So it's hard to ascribe the same premium to the valuation."

Erickson explains to Seana Smith and Brad Smith that Airbnb's core booking business has slowed as the company looks to expand internationally and into experience bookings.

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This post was written by Luke Carberry Mogan.