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Airbnb’s revenue in the first quarter showed a strong recovery in North American travel as the easing eased as customers paid higher rates for larger and larger rural properties.
Airbnb’s quarterly revenue of $ 887 million rose 5% over the same period last year. Wall Street expected revenue of $ 721 million in the quarter.
The number of bookings – 64.4 million – rose 13 percent from the first quarter of last year, while the average daily rate was $ 160, up 35 percent year-on-year.
The gross value of the reservation – the sum of all nights booked and experiences booked – was $ 10.3 billion, 52 percent more than the same time the pandemic began to affect travelers in 2020 and 3% higher than in 2019. On FactSet, analysts expected $ 7.878 billion.
The company said the rise has been on the way to more expensive bookings: more trips that include whole families, more bookings for whole homes and more non-urban destinations. The supply of active listings has been flat since the fourth quarter of 2020, the company said, despite an increase in the number of hosts offering non-urban real estate.
Despite a strong revenue stream, Airbnb had a net loss of 1.8 billion euros in the first quarter, far higher than Wall Street’s expectation of a $ 680 million loss.
Airbnb said a number of one-off costs have contributed to the large deficit, including stock-based compensation, costs associated with emergency funding obtained during the pandemic, and the termination of the San Francisco office lease.
Discounted by these costs – as well as interest, taxes, amortization and amortization – Airbnb said its adjusted ebitda was subtracted from $ 59 million, exceeding analysts ’expectations, according to data agreed by Capital IQ.
The company said it expects reserves to be higher than in 2020 in the current quarter, given the high impact of the pandemic in that period last year. He said they expected the inflated prices to continue.
“Along with easing the availability of vaccines and some travel restrictions, guests have been more willing to search for and book trips throughout the year,” Airbnb said.
He warned that his business was less predictable outside the US. In Europe in particular, the recovery depended on the “severity and duration” of ongoing travel restrictions.
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