Airbnb: Exceeds Earnings but Fewer Bookings Than Expected

Airbnb reported 98 cents per share in the second quarter, surpassing analysts' expectations of 78 cents per share. The company's revenue exceeded expectations, reaching $2.48 billion compared to the projected $2.42 billion. Despite this, Airbnb's shares fell by up to 6% in extended trading due to the company reporting fewer nights and experiences booked for the quarter than analysts had anticipated. The company's revenue showed an 18% year-over-year growth, reaching $650 million in net income. Although Airbnb saw an 11% increase in the number of nights and experiences booked during the quarter, it fell short of the expected 117.6 million, reaching only 115.1 million. The company is exploring various service opportunities to boost revenue, such as introducing an advertising platform and matching available hosts with people who lack the time to host.