Airbnb said that it earned $117 million in the first quarter as revenue rose during the ongoing recovery in travel, but the company’s outlook for late spring and early summer disappointed investors.
The San Francisco-based company’s shares fell nearly 12 percent in extended trading hours after Airbnb posted the forecast on Tuesday.
The weak outlook overshadowed Airbnb’s first profit in the first three months of the year, a seasonally slow period for travel.
The company’s profit compared with a loss of $19 million a year earlier and worked out to 18 cents per share. Revenue climbed 20 percent to $1.82 billion, beating Wall Street’s forecast of $1.79 billion, according to a FactSet survey….