Airbnb reports continued deceleration in nights and experiences booked
Summary
Airbnb shares slid as much as 6% in extended trading on Thursday after the short-term home-rental company reported a smaller sum of nights and experience booked in the second quarter than analysts had projected. "In particular, we were encouraged by the acceleration in year-over-year nights in North America throughout the quarter, and the recovery in EMEA in June following challenging holiday comparisons in May." Airbnb still sees plenty of service opportunities that could add to revenue growth, CEO Brian Chesky told analysts on a conference call. During the quarter Airbnb introduced Rooms in an effort to play up the appeal of affordable private bedrooms to rent out, at $67 per night on average. Notwithstanding the after-hours move, Airbnb shares have risen about 64% so far this year, outperforming the S&P 500 stock index, which is up 17% over the same period.