The home-sharing platform posted revenue of $1.5 billion, up 70% compared to the year prior and exceeding the $1.45 billion expected by analysts surveyed by Refinitiv. The revenue also marks an 80% increase from the same quarter in 2019, the last quarter before its business was hit by the pandemic. Airbnb posted a net loss of $19 million, down from a loss of $1.2 billion the same quarter in 2021.
When Airbnb made its Wall Street debut in December 2020, it was the beginning of a remarkable comeback following the pandemic's initial devastation to its business, which led it to cut a quarter of its workforce. The company's revenue grew 25% in 2021 compared to the year before the pandemic. In its letter to shareholders, Airbnb said it expects to post revenue upwards of $2 billion in the second quarter, which includes the start of the summer travel season.
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