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Airbnb reports deep red numbers

2021-05-14T06:35:04.681Z

Even with the vacation rental broker Airbnb, the full extent of the economic devastation is only now, towards the end of the corona crisis. Nevertheless, the group management remains optimistic.



Enlarge image

Airbnb boss Chesky on an advertising poster in New York's Times Square: travel boom expected

Photo: CARLO ALLEGRI / REUTERS

The apartment broker Airbnb continues to suffer from the coronavirus crisis and posted deep red numbers at the beginning of the year.

In the first quarter there was a loss of 1.2 billion dollars, as the company announced on Thursday after the US market closed.

A year ago, the minus was only $ 341 million despite the burdens of the pandemic.

Airbnb cited high costs of repaying loans taken out during the pandemic as a main reason for the poorer result.

In fact, business has already recovered significantly from the crisis.

Bookings rose 52 percent year-on-year to $ 10.3 billion, well above analysts' forecasts.

Sales were also higher than expected on the market, with an increase of five percent to $ 887 million.

Airbnb did not give specific goals for the rest of the financial year, but CEO Brian Chesky was optimistic: "We are expecting a travel boom like we've never seen before."

Investors reacted cautiously, however, the share initially fell after the hours.

mik / dpa-AFX

Source: spiegel

All business articles on 2021-05-14

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