Despite the economic uncertainty and the looming recession hanging like the sword of Damocles, this would not have dampened bookings on the Airbnb platform, which would have even peaked in the first quarter of 2023.
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“More guests are traveling with Airbnb than ever before,” CEO Brian Chesky said on Tuesday, according to CNN Business. We saw the highest number of active reservations ever.”
The company’s revenue would have increased 20% in the first few months of 2023, taking earnings to $1.8 billion. Airbnb would have reported a net profit of $117 million compared to a net loss a year earlier in the first few months of 2022.
“During the quarter, we saw guests booking their trips further in advance, supporting a strong backlog for the second quarter,” the CEO reportedly continued in a letter to shareholders.
Still, Airbnb shares are said to have fallen 10% Tuesday night, according to CNN Business, after the company posted a lowered outlook for the current quarter.
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