Airbnb shares surged 9% in after-hours trading on Thursday (Friday AEST) after the accommodation platform reported stronger-than-expected second-quarter earnings and revenue, while issuing an upbeat forecast for the current quarter.
The company posted earnings of US$1.37 per share, beating analysts' expectations of $1.26. Revenue rose to $3.61 billion, ahead of forecasts for $3.58 billion.
Second-quarter revenue increased 17% from $3.1 billion a year earlier, while net income climbed to $816 million from $642 million, or $1.03 per share, in the corresponding period last year.
Looking ahead, Airbnb expects third-quarter revenue of between $4.69 billion and $4.77 billion, comfortably above estimates of $4.61 billion.
At the midpoint of its guidance, the company expects revenue growth of around 14% from a year earlier.
Airbnb said it continued to experience strong travel demand across all regions during the quarter.
Bookings growth reached the high single digits in the United States and Canada, as well as in Europe and the Middle East. Asia-Pacific recorded growth in the high teens, while Latin America delivered bookings growth of around 20%.
The company highlighted Brazil and Mexico as standout markets, adding, "Overall, we continue to observe market share gains broadly across Latin America, demonstrating the success of our expansion strategy within this region."
Free cash flow rose 30% to $1.25 billion from $962 million a year earlier.
Airbnb ended the session with a market capitalisation of approximately $91.39 billion.
