Airbnb Inc. beat analysts’ estimates for bookings in the first quarter, reflecting pent-up demand for travel after a year of Covid-19 restrictions. But the lingering effects of the pandemic could still be seen as the company’s loss ballooned, a result of repayment of debt it took on during the height of the crisis. The San Francisco-based company, which went public in December, reported $10.3 billion in gross bookings in the three months ended March 31, a 52% increase from the year earlier period and well beyond the $7.57 billion analysts’ had predicted. Revenue rose 5% to $887 million, also beating analyst’s projections. “While conditions aren’t yet normal, they are improving, and we expect a travel rebound unlike anything we have seen before,” the company wrote in a letter to shareholders accompanying the results. Airbnb didn’t release an official outlook for the current period, citing ongoing impacts of Covid-19, but said it expects gross bookings to be higher
Market movers: Stocks seeing action on Friday - and why
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Airbnb Sees Signs of Rebound; Loss Widens on Debt Payment
Bloomberg 5/13/2021 Olivia Carville
(Bloomberg) Airbnb Inc. beat analysts’ estimates for bookings in the first quarter, reflecting pent-up demand for travel after a year of Covid-19 restrictions. But the lingering effects of the pandemic could still be seen as the company’s loss ballooned, a result of repayment of debt it took on during the height of the crisis.
Popular Searches
The San Francisco-based company, which went public in December, reported $10.3 billion in gross bookings in the three months ended March 31, a 52% increase from the year earlier period and well beyond the $7.57 billion analysts’ had predicted. Revenue rose 5% to $887 million, also beating analyst’s projections.
Airbnb, DoorDash set to report first results with COVID waning
Katrina Lewis and Brody Ford, Bloomberg News
Unicorn IPOs cap off tech s big year VIDEO SIGN OUT
(Bloomberg) Airbnb Inc. and DoorDash Inc. are set to report their first financial results as publicly traded companies Thursday, offering investors a glimpse of how their businesses fared during the last quarter of 2020 when COVID-19 cases were surging again.
While the fourth-quarter numbers will be important for investors to gauge how the two are managing their operations, what theyâll really be looking for are comments about the future, when coronavirus lockdowns ease, vaccines become more widespread and people begin traveling and going to restaurants again. Airbnb is expected to benefit from the waning days of the pandemic as people venture further from home while DoorDash has seen a boom from more delivery orders while people ordered in.
Updated
Prime Minister of Canada Justin Trudeau, Airbnb CEO Brian Chesky and French Finance Minister Bruno Le Maire speak on the final day of Reuters Next
5 Min Read
The fourth and final day of Reuters Next featured a wide-ranging group of influential leaders and thinkers including Airbnb CEO Brian Chesky, French Finance Minister Bruno Le Maire, Lululemon CEO Calvin McDonald, Canadian Prime Minister Justin Trudeau, Tata Group Chairman N Chandrasekaran, among many others.
Canada s Prime Minister Justin Trudeau takes part in a news conference at the Dominion Arboretum in Ottawa, Ontario, Canada December 11, 2020. REUTERS/Blair Gable - RC26LK9A34FC
vimarsana © 2020. All Rights Reserved.