Airbnb Reports Higher Second-Quarter Revenue, Issues Above-Estimate Outlook

Airbnb (NASDAQ: ABNB) reported second-quarter earnings and revenue above analysts’ expectations on Thursday and projected third-quarter sales that exceeded the consensus estimate.

The company forecast current-quarter revenue of $4.69 billion to $4.77 billion. Analysts surveyed by LSEG had expected $4.61 billion. The midpoint of Airbnb’s range would represent year-over-year growth of about 14%.

Airbnb said demand remained strong across each of its geographic regions. Bookings increased by a high-single-digit percentage in the United States and Canada, as well as in the region covering Europe and the Middle East.

Asia-Pacific bookings grew by a high-teens percentage, while Latin America recorded growth of about 20%. The company cited Brazil and Mexico as areas of particular strength and said it continued to gain market share across the Latin American region.

Second-quarter revenue rose 17% to $3.61 billion from $3.1 billion a year earlier. The result exceeded the $3.58 billion expected by analysts surveyed by LSEG.

Earnings were $1.37 per share, compared with the consensus estimate of $1.25 per share. Net income increased to $816 million from $642 million, or $1.03 per share, in the same period last year. Airbnb generated $1.25 billion in free cash flow during the quarter, an increase of 30% from $962 million a year earlier.

Shares of Airbnb rose to a peak of 9% in extended trading following the release.

About Airbnb

Airbnb (NASDAQ: ABNB) was founded in 2007 and is headquartered in San Francisco. The company operates an online marketplace that connects travelers with hosts offering short-term accommodations and other travel-related experiences.

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.