Jump in profits achieved

AirBnB benefits from the continuing desire to travel

Consumers' continuing desire to travel has given AirBnB a jump in profits. However, growth in North America has "slowed somewhat", explained the online accommodation provider.

In addition, the revenue target for the current quarter of 2.68 to 2.74 billion dollars (2.49 to 2.55 billion euros) fell short of market expectations. AirBnB justified the cautious outlook with the early Easter, which had boosted the results for the first quarter.

The share fell by seven percent after the figures were announced. At the start of the year, AirBnB increased its turnover by 18 percent to 2.14 billion dollars. At 261 million dollars, net profit was even more than twice as high as a year ago. Both figures were above market expectations. The number of bookings increased by 9.5 percent, it was also reported. Growth was driven by Asian and Latin American customers, who booked 21 and 19 percent more frequently respectively.

Triumphant advance in Europe
Online portals such as AirBnB are also becoming increasingly popular in Germany. According to the Federal Statistical Office, the number of bookings for vacation apartments and houses rose by a good eight percent to 46 million overnight stays last year, exceeding the level before the outbreak of the coronavirus pandemic.

AirBnB expects continued growth for the rest of 2024. The European Football Championship and the Olympic Games could provide an additional tailwind in the third quarter.