Airbnb (ABNB) shares gained nearly 4% after-hours Tuesday after the company posted a smaller-than-expected loss on higher revenue for the first-quarter and issued stronger guidance as the travel recovery takes hold.
The provider of by-owner rentals properties posted a Q1 loss of $0.03 per share, well above the consensus which called for a loss of $0.28 per share. Revenues rose 70% year-over-year to $1.5 billion, topping the consensus of $1.45 billion.
Nights and Experiences Booked surpassed pre-pandemic levels and exceeded 100 million for the first time ever, coming in at 102.1 million - up 59% year-over-year and up 26% from last quarter. Gross Booking (NASDAQ:BKNG) Value rose 67% year-over-year to $17.2 billion.
Looking ahead, Airbnb sees Q2 2022 revenue of $2.03-2.13 billion, above the consensus of $1.97 billion.
Shares of Airbnb were down 13% year-to-date going into the results.