Airbnb sees jump in demand as travel rebounds in North America

Airbnb Inc. gave a forecast for revenue in the current quarter that easily surpassed Wall Street’s estimates as the company sees “substantial demand” for travel heading into the busy summer season after more than two years of Covid-19 restrictions.

Second-quarter revenue will be $2.03 billion to $2.13 billion. That topped the average analyst’s estimate of $1.97 billion, according to data compiled by Bloomberg. Revenue in the first three months of the year was also better than expected, helping significantly narrow the net loss at the vacation home rental platform. The shares jumped in extended trading.

“As we lap the beginning of the travel rebound that started last year, we are particularly encouraged by the compounding growth we are seeing in North America,” Chief Executive Officer Brian Chesky wrote in a letter to shareholders. “U.S. domestic demand this year has so far outpaced our internal expectations and we are encouraged by U.S. international bookings exceeding 2019 levels.”