Airbnb Sees Demand Moderating as Chesky Readies for Pivot
- Company says it will buy back up to $6 billion of shares
- CEO says he’s ready to ‘reinvent’ Airbnb beyond its core
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Airbnb Inc. ended 2023 stronger than analysts’ had expected but suggested that demand in the current quarter wouldn’t be as robust as the last.
Revenue for the three months ending in March will be $2.03 billion to $2.07 billion, surpassing analysts’ average estimate of $2.02 billion. The number of nights and experiences booked is expected to moderate compared with the fourth quarter, however, due to a particularly strong growth rate a year ago, the home-sharing company said Tuesday in a letter to shareholders.