Airbnb reports continued deceleration in nights and experiences booked

Airbnb shares slid arsenic overmuch arsenic 6% successful extended trading connected Thursday aft the short-term home-rental institution reported a smaller sum of nights and acquisition booked successful the 2nd 4th than analysts had projected.

Here's however the institution did:

It was not instantly wide whether these numbers are comparable with analysts' estimates.

Airbnb's gross grew 18% twelvemonth implicit twelvemonth successful the quarter, according to a statement. Net income reached $650 million, compared with astir $379 million, oregon 56 cents per share, successful the year-ago quarter.

The institution reported $19.1 cardinal successful gross booking worth for the quarter. That was up 12% from the 2nd 4th of past twelvemonth and supra the $18.99 cardinal statement among analysts surveyed by StreetAccount.

Airbnb said it had 115.1 cardinal nights and experiences booked during the quarter, up astir 11%, but little than the 117.6 cardinal StreetAccount consensus. Nights and experienced booked accrued 19% successful the archetypal quarter.

In a letter to shareholders, Airbnb said the nights and experiences booked fig was up against a pugnacious comparison.

"We saw an betterment successful year-over-year Nights and Experiences Booked maturation during the 4th from 10% successful April to 15% successful June," the institution said. "In particular, we were encouraged by the acceleration successful year-over-year nights successful North America passim the quarter, and the betterment successful EMEA successful June pursuing challenging vacation comparisons successful May."

Gross booking worth per night, astatine $166.01, was up 1% twelvemonth implicit year.

With respect to guidance, Airbnb called for $3.3 cardinal to $3.4 cardinal successful third-quarter revenue, oregon 14% to 18% growth. Analysts polled by Refinitiv had been looking for $3.22 billion. Management called for a "modest" sequential acceleration successful nights and experiences booked.

During the 4th Airbnb introduced Rooms successful an effort to play up the entreaty of affordable backstage bedrooms to rent out, astatine $67 per nighttime connected average.

Notwithstanding the after-hours move, Airbnb shares person risen astir 64% truthful acold this year, outperforming the S&P 500 banal index, which is up 17% implicit the aforesaid period.

Executives volition discus the results with analysts connected a league telephone starting astatine 4:30 p.m. ET.

This is breaking news. Please cheque backmost for updates.

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