Airbnb reported $1.8B in revenue for Q1, a 20% increase YoY, surpassing analysts' expectations and generating a profit of $117M. But the vacation rental company's mixed outlook for Q2 2023, expecting a slight decline in average daily rates and slower growth in nights booked, caused investor concern. - Airbnb's gross booking value rose 19% to $20.4B, showing that people are willing to invest in travel, says WSJ.
- The company reported $146M in interest income due to higher rates and investments in money-market funds; additionally, Airbnb said it bought $2B of its stock over the past nine months.
- Airbnb predicted revenues between $2.35B and $2.45B for the second quarter of 2023, which aligned with analysts' predictions.
- Despite rising over 50% throughout the year, Airbnb's shares dropped 11% in after-hours trading.
|
