Airbnb Inc . ’s second-quarter revenue nearly quadrupled, rebounding from the lows of the pandemic as domestic travel lifted the home-sharing giant’s fortunes.
The company is projecting record revenue for the current quarter that ends in September despite the impact of the new Covid-19 Delta variant on bookings and cancellations.
“We anticipate that the impact of COVID-19 and the introduction and spread of new variants of the virus, including the Delta variant, will continue to affect overall travel behavior,” the company said in a statement, but Airbnb is “well positioned for the continued travel recovery.”
Revenue for the three months ended June climbed to $1.3 billion compared with $335 million in the same period last year, when world-wide Covid-19 lockdowns decimated Airbnb’s business. Airbnb beat the average estimate of analysts polled by FactSet.
Airbnb’s net loss narrowed to $68 million in the second quarter, compared with a loss of $576 million in the year-earlier period. Analysts had expected a loss of $254 million.
