Airbnb Approved announced its results for the first quarter of 2023 on Monday and the company reported record sales and high bookings.
In the first quarter, Airbnb revenue rose 20% to $1.8 billion, with net income of $117 million — marking the company’s “highest first quarter ever,” the press release said.
Additionally, the company’s Nights and Experiences feature (where users can sign up for local-hosted activities) hit a new record with a 19% year-over-year increase and over 120 million bookings.
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Airbnb said it saw a 36% increase in cross-border bookings, with a notable increase in the Asia-Pacific regions, where bookings grew 40% year over year.
according to a US Travel Association surveyAbout one in four Americans (23%) plan to travel for leisure in 2023, with half (about 52%) planning to travel somewhere in the next six months. Expedia, which owns Vrbo and Hotels.com, also saw this Record sales in the first quarter18% more than a year ago.
During the earnings announcement on the same day that the record-breaking sales results were announced, Airbnb CFO David Stephenson warned of the coming months.
“The second quarter is likely to be a bit tougher compared to last year’s Omicron, but overall we’re seeing solid demand for the back half,” Stephenson said Financial support.
As of Wednesday afternoon, Airbnb shares fell nearly 14% — the sharpest drop since December 2020 Bloomberg Data.
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Last week, Airbnb announced over 50 new features, including the launch of Airbnb rooms, which offer additional privacy details in the home (regardless of whether a bathroom is shared or not, whether the room has a lock).