Airbnb beats estimates with 70% revenue growth as travel rebounds
05/04/2022|8:29:44 AM|CNBC

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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