Live news: Airbnb shares slide 10% after weak bookings outlook
Shares in Airbnb fell greater than 10 per cent in prolonged buying and selling after the corporate mentioned it anticipated its bookings within the present quarter to underperform in contrast with final 12 months.
The corporate reported $1.82bn in gross sales, representing 20 per cent annual income progress, whereas surpassing Wall Avenue’s revenue forecasts by practically 150 per cent, incomes $117mn, its first-ever worthwhile first quarter.
Gross bookings worth, a key firm metric, grew 19 per cent to $20.4bn.
The earnings had been overshadowed by Airbnb’s steering for the present quarter, which projected a slowdown in bookings. “We anticipate year-over-year progress in Nights and Experiences Booked in Q2 2023 to be decrease than our income progress through the quarter,” the corporate mentioned.