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Live news: Airbnb shares slide 10% after weak bookings outlook

Shares in Airbnb fell greater than 10 per cent in prolonged buying and selling after the corporate stated it anticipated its bookings within the present quarter to underperform in contrast with final 12 months.

The corporate reported $1.82bn in gross sales, representing 20 per cent annual income development, whereas surpassing Wall Road’s revenue forecasts by almost 150 per cent, incomes $117mn, its first-ever worthwhile first quarter.

Gross bookings worth, a key firm metric, grew 19 per cent to $20.4bn.

The earnings have been overshadowed by Airbnb’s steerage for the present quarter, which projected a slowdown in bookings. “We anticipate year-over-year development in Nights and Experiences Booked in Q2 2023 to be decrease than our income development through the quarter,” the corporate stated.