In this represent illustration, the Airbnb stamp is displayed on a computer show screen and cell cell phone on February 13, 2024 in Los Angeles, California.
Mario Tama | Getty Shots
Airbnb reported first-quarter outcomes on Wednesday that beat analysts’ estimates however provided weaker-than-anticipated guidance. Shares fell better than 6% in extended trading.
Here’s how the firm did, compared with consensus expectations from LSEG:
- Earnings per share: 41 cents vs. 24 cents anticipated
- Income: $2.14 billion vs. $2.06 billion anticipated
Income increased 18% from $1.82 billion a year earlier. Airbnb reported a salvage income of $264 million, or 41 cents per share, compared with $117 million, or 18 cents per share, within the same duration final year.
The firm acknowledged earnings in its 2nd quarter will attain in between $2.68 billion and $2.74 billion. Analysts had been ready for $2.74 billion for the duration, based fully on LSEG.
In its letter to shareholders, Airbnb acknowledged it is miles already experiencing “tough demand for dash” earlier than the height summer season season, critically around upcoming events be pleased the Olympics in Paris. The firm additionally acknowledged it expects that year-over-year earnings snarl for its third quarter will tempo up compared with the 2nd quarter, in section because of the its summer season dash backlog.
Other special events be pleased the represent voltaic eclipse in North The US helped drive engagement with Airbnb’s platform accurate through the first quarter. The firm acknowledged it had 500,000 visitors quit on Airbnb accurate through the eclipse, based fully on its investor letter.
Airbnb acknowledged adjusted EBITDA for the first quarter used to be $424 million, up 62% year over year. Analysts polled by StreetAccount had been ready for $326 million.
Incorrect booking payment, which Airbnb makes grunt of to music host earnings, carrier charges, cleansing charges and taxes, used to be $22.9 billion within the first quarter. The firm reported 132.6 million nights and experiences booked, up 9.5% from a year ago, and better than the 132.1 million anticipated by analysts, based fully on StreetAccount.
Development in Airbnb’s nights and experiences booked used to be led by the Asia Pacific and Latin The US areas, Airbnb acknowledged. The firm is “critically encouraged” by snarl of its app downloads and usage, based fully on its shareholder letter. Airbnb app downloads within the U.S. increased 60% year over year.
Moderate each day rates increased 3% from a year ago to $173 within the first quarter, the firm acknowledged. It ended the quarter with its “very top assortment of gripping listings but,” based fully on the letter, which jumped 15% from a year earlier.
Correction: Airbnb’s quarterly salvage income used to be $264 million. An earlier model misstated the figure.
