Money
Airbnb shares down following despite huge earnings
Airbnb shares are down after the company reported its earnings and fears over the delta variant
The company beat Wall Street’s expectations for revenue and bookings but warned about expected volatility from Covid.
The company reported 83 million nights and experiences booked, up 29% from the first quarter.
Those figures where up a hopping 197% year over year after the travel industry collapsed a in 2020 amid the Covid-19 pandemic.
“In the last few weeks, we had our biggest night ever in the US and our biggest night globally since the pandemic began, with more than 4 million guests staying at an Airbnb listing.”
Analysts had expected 79.2 million nights and experiences booked.
Revenue came in at $1.34 billion, up nearly 300% year over year
While Airbnb has benefited from a US domestic travel boom linked to rising vaccination rates and easing restrictions, international sales remain stifled, and the delta variant has raised further doubts for the future.
Airbnb’s net loss narrowed to $68 million for the quarter, down more than 88% from a net loss of $575.6 million a year prior.