Airbnb forecasts upbeat revenue
The company continues to see signs of travelers returning to cities, historically one of the strongest areas of its business
The company expects to gain from a rebound in urban and international travel but firms with significant U.S. exposure are losing domestic business as more consumers opt for vacations abroad.
Key takeaways
- Global cross-border bookings rose 16% in the second quarter from a year earlier and more guests were returning to cities, with urban nights booked increasing by 13% year-over-year;
- However, average daily rate globally rose just 1% to $166, as the company said it was looking to moderate price hikes for consumers. Daily rates in North America decreased 1%;
- Airbnb's second-quarter revenue rose 18.1% to $2.48 billion, ahead of analysts' estimates of $2.42 billion. Gross bookings rose 13% to $19.1 billion, in line with expectations.