Business & Tech
Airbnb Posts $379M Profit In 2nd Quarter On Record Bookings
Airbnb has benefitted from the increase in travel and the exodus of workers from offices.
August 3, 2022
Airbnb said Tuesday that it earned $379 million in the second quarter on record bookings and rising rates, and the short-term rental giant announced a plan to spend up to $2 billion to buy its own stock.
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The results showed a reversal from losses in the second quarter of both last year and 2019.
Airbnb indicated that its third-quarter revenue will be better than analysts currently forecast, although the gross value of bookings in the second quarter fell short of Wall Street expectations.
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