Airbnb says its second-quarter profit rose more than 70% from a year ago to $650 million thanks to strong bookings for summer-vacation rentals.
FILE - The Airbnb app icon is displayed on an iPad screen in Washington, D.C., on May 8, 2021. Airbnb Inc. reports quarterly financial results on Tuesday, Feb. 14, 2023.
Prices, however, remain stubbornly high. Airbnb had forecast that average rates customers pay per night would fall slightly in the second quarter compared with last year. Instead, the average nightly rate rose 1% to $166. Chesky argued that hotels are raising prices faster, but Airbnb is trying to nudge many hosts to drop their rates.
Airbnb said Thursday its second-quarter profit rose from $379 million in the same period last year, when the company took $89 million in restructuring charges. Adjusted to exclude special items, Airbnb said it earned 98 cents per share.Analysts were expecting earnings of 80 cents per share on $2.42 billion in revenue, according to a FactSet survey.
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