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https://www.cnbc.com/2022/05/03/airbnb-abnb-earnings-q1-2022.html
Airbnb reported better-than-expected outcomes on Tuesday and gave an upbeat forecast for the second quarter, as the corporate sees a rebound in journey popping out of the pandemic.
Listed below are the important thing numbers:
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Loss per share: 3 cents vs 29 cents anticipated by analysts, in response to Refinitiv.
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Income: $1.51 billion vs $1.45 billion anticipated, in response to Refinitiv.
Income within the first quarter surged 70% from a yr earlier, regardless of pandemic issues, “macroeconomic headwinds” and the struggle in Ukraine, the corporate mentioned. Airbnb’s internet loss narrowed to $19 million from $1.2 billion the identical quarter a yr in the past.
Development is predicted to remain sturdy within the present quarter. Airbnb mentioned income can be between $2.03 billion and $2.13 billion, topping analysts’ common estimate of $1.96 billion. The low finish of the vary would characterize development of 52%.
Nonetheless, the corporate mentioned that dangers to bookings embrace “further Covid outbreaks, any impression to journey from the battle in Ukraine, and shopper value sensitivity.”
For the primary quarter, Airbnb reported 102.1 million nights and experiences booked, surpassing pre-pandemic ranges. Analysts anticipated the quantity to return in at 100.87 million, in response to StreetAccount.
Vacationers are additionally changing into more and more assured in reserving journeys additional prematurely. On the finish of April, the corporate had 30% extra nights booked for the summer season journey season than on the identical time in 2019.
Gross reserving worth, which Airbnb makes use of to trace host earnings, service charges, cleansing charges and taxes, totaled $17.2 billion within the first quarter, exceeding Wall Avenue’s estimate of $16.54 billion, per StreetAccount. That’s up 67% yr over yr.
Common every day charges rose 5% from a yr in the past to $168 within the quarter. The corporate anticipates ADR to be flat within the second quarter on a year-over-year foundation.
“Steady ADR in Q2 2022 means that Nights and Experiences Booked development in Q2 can be an excellent indicator of GBV development in Q2, each on a year-over yr foundation,” the corporate mentioned.
Airbnb has benefited from modifications in the way in which individuals work and journey brought on by the Covid-19 pandemic. Staff have been now not tethered to their desks and distant choices grew to become the norm, with many work-from-anywhere insurance policies nonetheless in place at the moment.
Airbnb mentioned final week it will permit its staff to work from wherever they need within the U.S. Beginning in September, staffers may stay and work in additional than 170 international locations for as much as 90 days a yr in every location.
Airbnb mentioned long-term stays of 28 days or extra remained its fastest-growing class by journey size in comparison with 2019. They accounted for 21% of gross nights booked within the first quarter.
The corporate additionally gave an replace on its humanitarian efforts in Ukraine. Airbnb supplied free, non permanent housing for as much as 100,000 refugees fleeing the struggle. To this point, greater than 14,000 individuals have obtained non permanent lodging by way of Airbnb in Europe, and greater than 34,000 individuals signed as much as provide their properties to refugees, the corporate mentioned.
After individuals started reserving listings in Ukraine with no intention to remain as a approach to help hosts, the corporate waived visitor and host charges. Airbnb mentioned that roughly 600,000 nights have been booked in Ukraine within the quarter with a complete GBV of about $20 million.
