Airbnb posts billion-dollar quarterly loss
Airbnb reported a first-quarter loss of $1.17 billion. It represents a tripling of losses but revenue was up compared to last year. The company’s first quarter revenue of $887 million is up 5% and it expects the ‘travel rebound of the century.’
It forecasts a big rise in bookings aided by a rising number of vaccinated people and higher prices for accommodations. However it is uncertain about a travel rebound in Europe due to sluggish vaccination rates and continued restrictions.
The company says losses were related to debt repayment and an adjustment in the value of stock warrants.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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