Airbnb Tumbles After Giving Muted Travel Outlook
- Company authorized share buyback of up to $2.5 billion
- Results follow strong reports from rivals Expedia and Booking
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Airbnb Inc. shares fell the most in six months Wednesday after the vacation home-rental company gave a cautious outlook for revenue, suggesting rising prices and a murky economic outlook are beginning to weigh on consumer appetite for trips.
The shares closed down 11% to $113.19 in New York, making up some losses after earlier registering the biggest intraday drop since the company went public in December 2020.