The online accommodation booking platform Airbnb published better than expected quarterly results on Tuesday, May 3 with record bookings and expects sustained demand until the end of the year.
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In the first three months of the year, the San Francisco group recorded 102 million room nights and activities (also called "experiences") booked, more than any other quarter so far.
This is 34% more than for the same period of 2019, which Airbnb has now chosen as a basis for comparison, arguing that 2020 and 2021 had been abnormal years, marked by the coronavirus pandemic.
The turnover is 36% higher than that of the first quarter of 2019 and 70% over one year, at 1.5 billion dollars, better than expected by analysts.
Profitable in the third and fourth quarters of 2021, the platform went slightly into the red, with a loss of 19 million dollars, significantly lower than anticipated.
“The return of tourism”
The release was well received by investors, with the stock rising more than 5% in post-close Wall Street electronic trading.
Regarding the current quarter, Airbnb indicates that it is seeing
“still strong demand”
in North America, Europe, Middle East and Africa, as well as in Latin America.
For this second quarter, the leaders are counting on a growth rate equivalent to that of the first, still compared to 2019. The company also says it is confident in the volume of reservations for this summer and has even observed an unprecedented level of activity for the fourth quarter, which includes the holiday season.
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These results
"reflect the return of tourism, with Airbnb gaining market share, supported by the effectiveness of its platform model"
, reacted, in a note, Baird analysts.
In addition to tourism, the company continues to benefit from new uses linked to remote work, explained Brian Chesky, the general manager, during a conference call presenting the results.
To echo this trend, Airbnb announced last week that it is now allowing its employees to work from wherever they choose, with no salary changes, including if they are working from a location where the cost of life was lower.