Airbnb reported better-than-expected results on Tuesday and gave an upbeat forecast for the second quarter, as the company sees a rebound in travel coming out of the pandemic.
Revenue in the first quarter surged 70% from a year earlier, despite pandemic concerns, “macroeconomic headwinds” and the war in Ukraine, the company said. Airbnb’s net loss narrowed to $19 million from $1.2 billion the same quarter a year ago.
Growth is expected to stay strong in the current quarter. Airbnb said revenue will be between $2.03 billion and $2.13 billion, topping analysts’ average estimate of $1.96 billion. The low end of the range would represent growth of 52%.
For the first quarter, Airbnb reported 102.1 million nights and experiences booked.
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