The company said cross-border bookings grew 36% over last year's first quarter, helped by travel to and within the Asia-Pacific region and bookings into North America. More of those people are booking international stays. In a letter to shareholders, Airbnb said its revenue and the gross value of bookings are both double what they were before the pandemic.Īirbnb is getting a lift from people who are traveling while they take advantage of the ability to work remotely and stay away from the office. That was below analysts' average prediction of $2.42 billion. The company predicted that revenue in the second quarter, which includes the start of the peak summer travel season, would be around $2.40 billion. The company said bookings will grow more slowly than revenue in the April-through-June period, and the average daily rental rate will be “slightly lower” than a year earlier. However, Airbnb said second-quarter bookings growth won't look as robust as they did a year earlier, when consumers were busy booking travel after hunkering down at home during the outbreak of COVID-19's omicron variant. “We have seen our highest number of active bookers ever despite continued macroeconomic uncerainty,” CEO Brian Chesky said during a call with analysts. Nights and experiences booked, a closely watched measurement for Airbnb, increased 19% to 121 million, and the company valued the bookings made in the quarter at $20.4 billion, a 19% increase. Revenue climbed 20% to $1.82 billion, beating Wall Street's forecast of $1.79 billion, according to a FactSet survey. The company's profit compared with a loss of $19 million a year earlier and worked out to 18 cents per share. The weak outlook overshadowed Airbnb's first profit in the first three months of the year, a seasonally slow period for travel.
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