Airbnb stated Thursday its second-quarter revenue leapt more than 70% over last summerseason, to $650 million, as earnings increased on strong reservations for summer-vacation leasings.
The San Francisco business stated reservations grew 11% over the exactsame duration last year. Still, they were a bit lighter than experts anticipated.
The shares fell about 1% after 3 hours of late trading.
Airbnb hasactually been fighting grievances that high cleansing charges haveactually pressed costs closer to, or even above, hotels for brief leasings. It altered its website to displayscreen cleansing costs inadvance, when customers are price-shopping.
Prices, nevertheless, stay stubbornly high. Airbnb had projection that average rates clients pay per night would fall somewhat in the 2nd quarter compared with last year. Instead, the average nighttime rate increased 1% to $166.
CEO Brian Chesky stated on a call with experts that the cost consumers book is lower than list costs on average.
“So we do see individuals gravitating towards more costeffective remains,” Chesky stated. He stated some of the modest boost over last year’s average rate is due to individuals boo