Airbnb Posts Biggest Decline in a Year on Weak Travel Outlook
- Projected increase in nights booked is slowest since 2020
- Company sees robust summer demand from Olympics, Euro Cup
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Airbnb Inc. shares slid by the most in a year after the home-rental company gave lackluster guidance for a second straight quarter, indicating that growth in travel spending will slow ahead of the peak summer season.
Revenue for the current quarter ending in June will be $2.68 billion to $2.74 billion, the company said Wednesday in a letter to shareholders. Analysts had been expecting $2.74 billion. In its statement, Airbnb blamed the earlier timing of the 2024 Easter holiday, as well as currency headwinds.