Airbnb IncABNB
▲ PositiveDemandrelevance
Raised full-year revenue forecast and Q2 revenue beat, easing travel demand worries.
Impact on stocks 1
Consumer Discretionary
Airbnb IncAirbnb raised its full-year revenue forecast, sending shares up 14% to a more-than-four-year high on Friday. The company now expects revenue growth of at least the mid-teens, up from its previous low- to mid-teens forecast, and reported second-quarter revenue of $3.61 billion, above the $3.57 billion analyst estimate. The raised outlook eased investor worries over the fallout on global travel demand from the conflict in the Middle East. Airbnb is also expanding beyond home rentals, with hotel room nights growing at three times the rate of homes, and using AI to cut costs, as customer support costs per booking fell about 16% year over year.
Airbnb IncRaised full-year revenue forecast and Q2 revenue beat, easing travel demand worries.