Aug 2, 2022
Airbnb bookings hit record high as travel recovers
The company said it was now in the middle of its strongest peak summer travel season yet, and it assured investors that it was well poised for whatever may hit the economy. A slowdown may actually help the company, executives said. Overall, bookings in the April-June period rose 25% from last year to 103.7 million and up 24% from 2019.Higher prices helped lift the company's revenue, which surged 58% from last year to $2.1bn.Nearly half of the company's reservations are for a week or longer, the company said. Executives said the buyback programme was a sign of their confidence in the company's future. The company reported a profit of $379m, compared to a loss of $68m last year.
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