In this advise illustration, the Airbnb logo is displayed on a laptop computer screen and cell phone on February 13, 2024 in Los Angeles, California.
Mario Tama | Getty Images
Airbnb reported first-quarter outcomes on Wednesday that beat analysts’ estimates however equipped weaker-than-expected steering. Shares fell larger than 6% in prolonged buying and selling.
Right here is how the corporate did, in contrast with consensus expectations from LSEG:
- Earnings per half: 41 cents vs. 24 cents expected
- Revenue: $2.14 billion vs. $2.06 billion expected
Revenue increased 18% from $1.82 billion a year earlier. Airbnb reported a find income of $264 million, or 41 cents per half, in contrast to $117 million, or 18 cents per half, within the an analogous duration closing year.
The corporate said income in its 2nd quarter will reach in between $2.68 billion and $2.74 billion. Analysts were expecting $2.74 billion for the duration, in accordance with LSEG.
In its letter to shareholders, Airbnb said it’s miles already experiencing “tough search details from for glide back and forth” earlier than the high summer season, particularly spherical upcoming events worship the Olympics in Paris. The corporate additionally said it expects that year-over-year income yell for its third quarter will lumber up in contrast to the 2nd quarter, in phase attributable to its summer glide back and forth backlog.
Diversified special events worship the solar eclipse in North America helped pressure engagement with Airbnb’s platform at some stage within the first quarter. The corporate said it had 500,000 company defend on Airbnb at some stage within the eclipse, in accordance with its investor letter.
Airbnb said adjusted EBITDA for the first quarter was $424 million, up 62% year over year. Analysts polled by StreetAccount were expecting $326 million.
Snide reserving worth, which Airbnb makes spend of to trace host earnings, provider expenses, cleaning expenses and taxes, was $22.9 billion within the first quarter. The corporate reported 132.6 million nights and experiences booked, up 9.5% from a year within the past, and better than the 132.1 million expected by analysts, in accordance with StreetAccount.
Hiss in Airbnb’s nights and experiences booked was led by the Asia Pacific and Latin America areas, Airbnb said. The corporate is “particularly encouraged” by yell of its app downloads and utilization, in accordance with its shareholder letter. Airbnb app downloads within the U.S. increased 60% year over year.
Reasonable each day charges increased 3% from a year within the past to $173 within the first quarter, the corporate said. It ended the quarter with its “best sequence of active listings yet,” in accordance with the letter, which jumped 15% from a year earlier.
Correction: Airbnb’s quarterly find income was $264 million. An earlier version misstated the pick.
