Tom White, a senior research analyst at D.A. The company is also increasing its brand marketing investment in more countries around the world. In its letter to shareholders, Airbnb said it has pulled forward the timing of its marketing spend to the first half of the year to help support the peak summer travel season. “We were especially encouraged by the continued recovery of Asia Pacific as nights booked in q1 increased more than 40% year over year.”Īirbnb also reported net income of some $117 million, compared to a net loss in the same period last year.īut the company’s guidance for the current quarter “disappointed on both the top and bottom line,” analysts at Barclays said in a note Wednesday morning. “During the quarter, we also saw guests booking trips further in advance, supporting a strong backlog for q2,” he added. “We’ve seen our highest number of active bookers ever, despite continued macroeconomic uncertainties.” “More guests are traveling on Airbnb than ever before,” CEO Brian Chesky said on a call with analysts Tuesday. The company said nights and experiences booked on the platform hit a record high of over 120 million last quarter. The company reported revenue for the quarter grew 20% to $1.8 billion, just beating Wall Street’s estimates. Shares of Airbnb fell more than 10% in trading Wednesday after the travel company offered a more muted outlook for the current quarter than some analysts had expected.Īirbnb on Tuesday reported strong revenue growth and a new record for bookings during the first three months of the year, in a sign that demand for travel remains strong despite lingering recession fears.
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