Airbnb had a blockbuster second quarter, with revenue soaring nearly 300 per cent and topping expectations. But it also reported some bad news: The company is worried about the Delta variant's impact on consumers' future travel plans.
Analysts are currently forecasting that Airbnb will report revenue of nearly $1.9 billion in the third quarter, up from sales of $1.3 billion in the second quarter.Many other travel and leisure companies are facing similar challenges. Shares of Disney, which also reported strong earnings Thursday, hotel chains Marriott and Hyatt, and top airline Delta have also lagged the broader market this year.
Fitzgerald praised the company for adding inventory in high-demand markets, noting that as more companies delay plans for workers to return to offices, Airbnb should benefit from more people looking to book long-term stays, particularly in nonurban markets.
Thanks Sherlock!