Airbnb Shares Plummet 14% After Disappointing Earnings Report, Hits Record 125 Million Bookings Despite Slowing Demand.

Benzinga
Benzinga
  • 2 months ago
Airbnb shares fell 14% after the company reported second-quarter earnings that missed analyst expectations. Airbnb warned of moderating year-over-year growth in its "Nights and Experiences" category for the third quarter compared to the second quarter. The company said it is seeing shorter booking lead times globally and signs of slowing demand from U.S. guests. Users booked over 125 million nights and experiences in the second quarter, a record high. Since launching a new quality system over a year ago, Airbnb removed over 200,000 low-quality listings.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Airbnb shares fell 14% after the company reported second quarter earnings that missed
00:07Analytics' expectations.
00:09Airbnb warned of moderating year-over-year growth in its Nights & Experiences category
00:13for the third quarter compared to the second quarter.
00:16The company said it is seeing shorter booking lead times globally and signs of slowing demand
00:20from U.S. guests.
00:22Users booked over 125 million nights and experiences in the second quarter, a record high.
00:28Airbnb removed over 200,000 low-quality listings since launching a new quality system over
00:33a year ago.
00:34For all things money, visit Benzinga.com.

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