Airbnb's shares drop 14% after earnings miss and forecast of slowing U.S. demand

From CNBC: 2024-08-06 17:37:50

Airbnb’s shares dropped 14% after-hours as Q2 earnings missed estimates and the company forecasted slowing U.S. demand. Revenue was $2.75B, beating expectations. Net income was $555M, down from $650M last year. Q3 revenue is expected to be $3.67B to $3.73B, with a warning of slower growth and shorter booking lead times globally.

In Q2, Airbnb recorded 125.1 million Nights and Experiences bookings, the highest ever for that quarter. The company removed over 200,000 low-quality listings. Investors are watching for consumer pressure amid signs of economic strain. Other companies like McDonald’s have seen a 1% drop in same-store sales, indicating economic challenges.



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