Airbnb reported mixed results amid regional weakness spurred by the war in Iran.
Revenue in the first quarter rose 18% to US$2.68 billion, surpassing expectations of $2.62 billion.
Net income grew to $160 million, or 26 cents per share, from $154 million or 24 cents per share, the same time last year.
Despite this growth, earnings per share missed estimates of 29 cents per share.
The company remains optimistic about its “continued momentum”, despite current headwinds from the Middle East conflict, which has spiked oil prices, cancelled flights and fueled widespread regional uncertainty.
Airbnb said it expects to generate revenue of $3.54 billion to $3.60 billion, representing year-over-year growth of 14% to 16%.
For the full year, the company expects revenue to accelerate into the low to mid-teens.
Gross booking value, which tracks host earnings, service fees, cleaning fees and taxes, increased 19% to $29.2 billion, topping a $27.82 billion estimate from analysts.
Airbnb said it is also gearing up for a busy summer season with the upcoming FIFA World Cup in cities across Canada, Mexico and the U.S.
The company said the Milano Cortina Olympics and Paralympic Games earlier this year lured about 200,000 guests, and supply in the host market rose by a third.
At the time of writing, Airbnb (NASDAQ: ABNB) shares closed 0.41% higher at $140.46, but fell 1.76% in after-market trading to $137.99. Its market cap is $84.84 billion.
