Airbnb reported first-quarter results on Wednesday that beat analysts' estimates on the top and bottom lines.Airbnb said it is already experiencing"robust demand for travel" ahead of the peak summer season.
Revenue increased 18% from $1.82 billion a year earlier. Airbnb reported a net income of $246 million, or 41 cents per share, compared to $117 million, or 18 cents per share, in the same period last year. In its letter to shareholders, Airbnb said it is already experiencing"robust demand for travel" ahead of the peak summer season, particularly around upcoming events like the Olympics. The company also said it expects that year-over-year revenue growth for its third quarter will accelerate compared to the second quarter, in part because of its summer travel backlog.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyGross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, came in at $22.9 billion in the first quarter. The company reported 132.6 million nights and experiences booked, up 9.5% from a year ago, and higher than the 132.1 million expected by analysts, according to StreetAccount.
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