shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it's seeing signs of slowing demand from U.S. customers.Revenue increased 11% year-over-year. Airbnb reported a net income of $555 million, or $0.86 per share, down 15% from $650 million, or $0.98 per share, in the year-ago quarter.
The company guided to third-quarter revenue of $3.67 billion to $3.73 billion, but also warned that it expected moderation in year-over-year growth for Nights and Experiences, relative to the current quarter. It also cautioned that it was"seeing shorter booking lead times globally and some signs of slowing demand from U.S. guests."
Airbnb said users booked 125.1 million Nights and Experiences, its highest second-quarter number ever."We saw continued growth across all regions compared to Q2 2023, with Asia Pacific and Latin America again leading the way," it said in its letter to shareholders.Investors are carefully watching for signs that the consumer is under pressure, as the Federal Reserve continues to hold off on rate cuts.