Airbnb stock soars 9% 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 second-quarter earnings surpassed expectations, with revenue and net income both rising significantly. The company's stock surged by 9% in extended trading on Thursday. Airbnb's revenue rose 17% compared to the previous year, reaching $3.1 billion, while net income increased to $816 million from $642 million, translating to $1.03 per share.
For the current quarter, Airbnb provided a revenue forecast ranging from $4.69 billion to $4.77 billion, which is slightly above the analysts' consensus of $4.61 billion. The company anticipates a year-over-year revenue growth of around 14% in this period.
Airbnb reported robust growth in various regions. In the U.S. and Canada, bookings growth was in the high single digits, while Asia-Pacific experienced a high teens growth rate. Latin America saw particularly strong bookings growth of about 20%, with particular strength in Brazil and Mexico. The company noted overall market share gains in this region, highlighting the success of its expansion strategy. Additionally, Airbnb's free cash flow surged by 30% to $1.25 billion, up from $962 million in the previous year.
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