Hold Airbnb responsible: Airbnb earns $379M in second quarter

From Arkansas Online:

Airbnb earned $379 million in the second quarter on record bookings and rising rates, and the short-term rental giant announced plans to spend up to $2 billion to buy its own stock.

The results showed a reversal from losses in the second quarter of both last year and 2019. Airbnb said third-quarter revenue would be between $2.78 billion and $2.88 billion on “slightly higher” average rental prices. Analysts expect $2.77 billion.

Airbnb has benefited from the increase in travel and the exodus of workers from offices during the covid-19 pandemic.

Bookings in the second quarter were about one-fourth higher than last year and 2019, but their gross value of $17.0 billion was slightly below analysts’ forecast of more than $17.1 billion, according to FactSet.

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