Airbnb IncAirbnb raised revenue outlook and beat estimates, with AI cutting support costs per booking by 16%.

Airbnb reported that artificial intelligence upgrades to its customer-support assistant reduced support costs per booking by 16% compared to a year ago, offering a concrete return on AI investment. The disclosure came as the company raised its full-year revenue growth outlook to the mid-teens from low-to-mid-teens and posted second-quarter revenue of $3.61 billion, a 17% increase. Gross bookings reached $27.2 billion and adjusted profitability beat estimates. CEO Brian Chesky said the AI improvements are also being applied to search and product development, with machine-learning techniques already showing a statistically significant gain in booking conversion in testing. Shares surged about 14% to their highest level in four years following the results.
Airbnb IncAirbnb raised revenue outlook and beat estimates, with AI cutting support costs per booking by 16%.