SAN FRANCISCO (AP) — Airbnb’s revenue greater than doubled final quarter, however administration’s disappointing income forecast sparked a roughly 7% drop fort its inventory in after-market buying and selling Wednesday.
The San Francisco-based trip rental app stated its internet earnings rose to $264 million within the first quarter from $117 million a yr earlier, on income that rose 18% to $2.14 billion. Earnings per share within the quarter jumped to 41 cents; analysts surveyed by FactSet anticipated 23 cents.
Earnings development was partly pushed by a shift within the Easter vacation, which fell in the course of the second quarter in 2023 versus the primary quarter this yr.
Airbnb projected income within the second quarter between $2.68 billion and $2.74 billion. That fell wanting Wall Road expectations, partly due to unfavorable change charges and partly due to the shift within the Easter vacation.
