Airbnb beats on revenue but offers weaker-than-expected guidance
Summary
Brian Chesky, co-founder and CEO of Airbnb, speaks during an interview with CNBC on the floor of the New York Stock Exchange, May 10, 2023. Airbnb shares slipped more than 3% in after-hours trading Wednesday after the company reported stronger than expected revenue, buoyed by currency tailwinds, but provided weaker-than-expected guidance for the upcoming fiscal quarter. "We are seeing greater volatility early in Q4, and are closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand," the company said in its letter to shareholders. The company also provided updates on its efforts to lower the cost of Airbnb stays for consumers. The company also said it would be taking steps to enhance listing verifications later in the year in the U.S. and four other countries.