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Airbnb sharply narrowed its first-quarter loss to $19 million, as the rebound in travel after two years of pandemic caused bookings to jump and revenue to nearly double from a year ago.
The lodging-reservations company said Tuesday that there is strong demand for bookings during summer and the year-end holidays. Airbnb said international bookings by Americans are running ahead of their pre-pandemic pace.
However, Airbnb said, the possibility of future COVID-19 outbreaks, the war in Ukraine and inflations pose risks to its business.
The loss that Airbnb reported was a sliver of the $1.17 billion loss it suffered a year earlier.
Revenue rose to $1.51 billion.
On a per-share basis, the loss was 3 cents. Analysts expected the San Francisco company to lose 25 cents per share on revenue of $1.45 billion, according to a FactSet survey.
Shares of Airbnb rose 5% in the first minutes of after-hours trading. They had lost 5% during the regular session.