Airbnb published On Monday it reported its first quarter results for 2023, and the company reported record revenue and higher bookings.
In Q1, Airbnb Revenue rose 20% to $1.8 billion with net income of $117 million — making it the company’s “highest first quarter ever.”
Additionally, the company’s Nights & Experiences feature (where users can sign up for activities hosted by locals) set a new record with a 19% increase over the previous year and over 120 million bookings.
Related: Airbnb has made it very easy to rent out your apartment long-term
Airbnb said it had a 36% increase in cross-border bookings, with a significant rise in the Asia Pacific region, which saw bookings grow 40% year-on-year.
Accordingly Survey by US Travel Association, nearly one in four Americans (23%) plan to travel for leisure in 2023, with half (about 52%) going somewhere within the next six months. Expedia, which owns Vrbo and Hotels.com, took a look, too Record Q1 Revenue18% more than a year ago.
However, on the same day of record-high revenue results during the earnings call, Airbnb CFO David Stephenson warned about the coming months.
“Q2 is going to be a bit of a tough comp given Omicron’s last year, but we’re seeing steady demand overall for the back half,” Stephenson said. Call.
As of Wednesday afternoon, Airbnb stock was down nearly 14% — the steepest drop since December 2020, per Bloomberg data
Related: How to start an Airbnb business without owning property
Last week, it announced more than 50 new features, including the introduction of Airbnb Airbnb roomwhich provides additional details regarding privacy in the home (whether the bathroom is shared or not, if the room is locked).
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