Airbnb stock soars 12% on earnings and revenue beat, strong guidance for third quarter
Airbnb said it's seeing strong demand "across all regions", contributing to the company's better-than-expected forecast.
Airbnb's stock surged 12% following its earnings report and revenue beat for the second quarter. The results exceeded analyst expectations, with revenue climbing 17% from the previous year and net income rising to $816 million from $642 million. For the current period, the company anticipates revenue between $4.69 billion and $4.77 billion, surpassing the LSEG consensus estimate of $4.61 billion.
Airbnb's bookings growth in the U.S. and Canada region, as well as in Europe and the Middle East, was in the high single digits. Growth in Asia-Pacific was in the high teens, while Latin America saw bookings growth of about 20%. The company particularly highlighted strong performance in Brazil and Mexico, attributing the success to their expansion strategy in the region.
Additionally, Airbnb reported a 30% increase in free cash flow to $1.25 billion from $962 million a year earlier.
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