Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Airbnb shows travellers are bucking recessionary fears

by February 15, 2023
February 15, 2023
Airbnb shows travellers are bucking recessionary fears

Airbnb last night forecast current-quarter revenue above Wall Street estimates as demand for travel defied the economic gloom.

The home-sharing platform said the stronger dollar and reopening of borders had boosted consumers’ willingness to travel even as recession fears added to concerns over discretionary spending. “We’re particularly encouraged by European guests booking their summer travel earlier this year,” Airbnb said.

In late trading in New York last night shares in Airbnb rose $11.43, or 9.5 per cent, to $132.30, valuing the company at $77 billion.

The company forecast first-quarter revenue of between $1.75 billion and $1.82 billion, higher than analysts’ expectations of $1.69 billion, according to Refinitiv. It expects to maintain last year’s margins in 2023 by maintaining a tight rein on costs.

It also forecast that average rates for its rentals would fall slightly in the current quarter and would remain under pressure through 2023 as holidaymakers concentrate on seeking out lower-cost urban rentals.

Founded in 2008 and based in San Francisco, Airbnb helped to transform the international travel market by enabling users to rent out rooms and homes.

The company said it had added 900,000 active listings year-on-year, bringing the total available listings on its platform to a record 6.6 million, 16 per cent higher than in 2021.

Revenue rose 24 per cent to $1.9 billion during the holiday quarter to the end of December, lower than the preceding two quarters, but higher than estimates of $1.86 billion. Fourth-quarter average daily rates fell 1 per cent to $153 and bookings rose 20 per cent to $13.5 billion, below an average expectation of $13.69 billion.

Airbnb reported a quarterly net profit of $319 million, compared with a profit of $55 million a year ago.

Read more:
Airbnb shows travellers are bucking recessionary fears

0
FacebookTwitterGoogle +Pinterest
previous post
Oklahoma Medicaid cut will affect coverage for 300,000
next post
Insolvencies driven up by rocketing costs

You may also like

SMEs bring forward finance plans in order to...

August 8, 2022

DB scheme running costs surge 37% on average...

October 14, 2024

Asda’s struggle under Issa brothers draws criticism from...

August 10, 2024

Streamkap Raises $3.3M to Bring Real-Time Data at...

July 31, 2024

Does The IRS Settle For Less Than Owed?  

September 1, 2023

Tax cuts top SMEs’ wish list ahead of...

November 20, 2023

Rachel Reeves hints at fresh tax hikes amid...

July 4, 2025

Government urged to disclose how £1.5bn raised from...

September 19, 2023

Jeremy Clarkson Considering Taking Over Cotswolds Pub Near...

April 10, 2024

Cognitive processes from a social and economic perspective

March 22, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump’s Debanking Order Calls for Investigation, Something Tennessee Should Have Done

      August 7, 2025
    • $93 million in aid to fight malnutrition headed to 12 African countries, Haiti, State Dept says

      August 7, 2025
    • $93 million in aid to fight malnutrition headed to 12 African countries, Haiti, State Dept says

      August 7, 2025
    • America’s Not-So-Secret Secret Police

      August 7, 2025
    • Poll: Nearly 1 in 4 Americans Think They Have a Personal Social Security Account

      August 7, 2025
    • Republican senator claims RFK Jr. mRNA vaccine decision undermines Trump agenda

      August 7, 2025

    Categories

    • Business (8,704)
    • Investing (2,185)
    • Politics (16,335)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved