Airbnb forecasts revenue above estimates on rebound in international travel

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Airbnb forecasts third-quarter revenue above market estimates on Thursday, but industry fears of softening U.S. domestic demand have sent the vacation rental firm's shares down 4.2 per cent in after-hours trading.

The login page for Airbnb's iPhone app is seen in front of a computer displaying Airbnb's website on May 8, 2021, in Washington.

Airbnb, which receives a majority of its revenue from outside the United States, said global cross-border bookings rose 16 per cent in the second quarter from a year earlier and more guests were returning to cities, with urban nights booked increasing by 13 per cent year-over-year. The demand for domestic hotels has been flat in the United States as pandemic restrictions ease and a strong U.S. dollar has encouraged consumers to book flights and stays overseas, according to analysts. But the short-term rental company said the majority of its U.S. customers are still booking domestic stays.

 

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