Airbnb Q1 results top estimates as company sees 'strong sustained pent-up demand' for travel

$229 million vs. $75.5 million expected and an adjusted EBITDA loss of $59 million Y/Y

This pick-up in bookings also trickled down to Airbnb's bottom-line results, as Airbnb swung to an adjusted EBITDA profit of $229 million during the quarter. Though net losses still came in at $19 million, this marked a significant narrowing from the $1.2 billion net loss posted in the first quarter of last year.

Like many travel companies, Airbnb has benefitted from the pent-up demand for travel that consumers have built up over the course of the past couple years. With mobility picking up and new COVID-19 infections coming off their peaks in many regions, bookings have improved markedly from the depths of the pandemic.

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Universal Music Group reports Q1 revenue up 22%, core earnings up 14.9%AMSTERDAM : Universal Music Group, the largest recording label, on Tuesday reported better-than-expected first quarter revenue driven by subscription and streaming income while meeting core earnings expectations.Revenue rose to 2.20 billion euros ($2.32 billion) from 1.81 billion a year earlier. Ad
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