Airbnb Earnings Top Estimates but Shares Slide

Airbnb shares are trading sharply lower in late trading Tuesday after the short-term real-estate rental service posted second-quarter results about in line with the company’s guidance, but apparently not quite as good as investors had hoped.

For the quarter, Airbnb (ticker: ABNB) reported revenue of $2.1 billion, up 58% from a year ago, consistent with the company’s forecast of $2.03 billion to $2.13 billion, and a hair below consensus at $2.11 billion. On a constant currency basis, revenues were up 64%. The company noted that revenue was up 73% from 2019, before the onset of the Covid-19 pandemic.

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