Airbnb boasts second-quarter revenue beat but sounds Delta variant warning

Q2 revenues nearly quadrupled, but the company still reported a net loss.

National /
Aug.August 12, 2021 07:19 PM
Airbnb boasts second-quarter revenue beat but sounds Delta variant warning

Airbnb CEO Brian Chesky (LinkedIn)

Airbnb’s business has rebounded decisively from the depths of the pandemic, but the near-term outlook for the business is still unclear as the virus mutates and resurges.

Airbnb shares tumbled about 5 percent in after-market trading after the company issued a warning about “volatile and non-linear” year-over-year performance to come.

“In the near term, we anticipate that the impact of Covid-19 and the introduction and spread of new variants of the virus, including the Delta variant, will continue to affect overall travel behavior, including how often and when guests book and cancel,” the company said in a letter to shareholders.

The company added that it can’t foresee how ongoing vaccination efforts, containment of new virus variants, and travel restrictions outside the U.S. in the coming months will affect third-quarter and fourth-quarter results.

The online lodging platform’s revenue surged to $1.3 billion in the second quarter from $335 million in the prior-year period — the company’s highest quarterly revenue on record and a 299 percent increase year-over-year.

Second-quarter revenue was 10 percent higher even than the 2019 second quarter, which the company attributed to greater global supply and demand.

“Now that Q2 is behind us, we can definitively say that the travel rebound is upon us, and Airbnb is leading the way,” co-founder and CEO Brian Chesky said on an earnings call.

Airbnb still reported a net loss of $68 million, however, in part because of higher sales and marketing expenses. In the 2020 second quarter, the company recorded a net loss of $575 million.

Gross booking value, representing Airbnb hosts’ earnings, service fees, cleaning fees and taxes, totaled $13.4 billion during the quarter — a 320 percent increase year-over-year.





    Related Articles

    arrow_forward_ios
    Cognito's John Backus and 7960 Biscayne Point Circle (LinkedIn, Zillow)
    Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
    Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
    McDowell wants to build 201 apartments near Homestead, puts land under contract
    McDowell wants to build 201 apartments near Homestead, puts land under contract
    McDowell wants to build 201 apartments near Homestead, puts land under contract
    Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
    Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
    Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
    6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
    Tampa-area home billed as first in US to be sold as an NFT
    Tampa-area home billed as first in US to be sold as an NFT
    From left: Harvey Hernandez and Cindy Diffenderfer (NGD Homesharing, Newgard Group, iStock)
    Harvey Hernandez’s NGD Homesharing hit with $963K judgment
    Harvey Hernandez’s NGD Homesharing hit with $963K judgment
    Lucy Guo and One Thousand Museum (1000Museum, LinkedIn)
    Silicon Valley whiz kid buys One Thousand Museum condo for $7M
    Silicon Valley whiz kid buys One Thousand Museum condo for $7M
    From left: Brian Long and Liz Day in front of 6901 Granada Boulevard (Attentive, The Carroll Group, iStock)
    Tech CEO, New York Times reporter buy waterfront Coral Gables mansion for $20M
    Tech CEO, New York Times reporter buy waterfront Coral Gables mansion for $20M
    Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
    Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
    Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...