Airbnb Shares Fall as Company Issues Mixed Outlook

📆 5/9/2023 7:10 PM
📰 WSJ

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Airbnb saw rising profits and bookings in the first quarter as travel demand continues to show strength despite recession fears and high inflation

reported higher revenue and profit in the first quarter, but customers reserved fewer-than-expected stays and the company gave a mixed outlook for the second quarter, spooking investors.

The short-term rental company recorded a quarterly profit of $117 million, beating analysts’ expectations of $90 million. Airbnb recorded a loss of $19 million in the first quarter of 2022.

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