{"id":119817,"date":"2021-08-12T23:12:02","date_gmt":"2021-08-12T23:12:02","guid":{"rendered":"https:\/\/fin2me.com\/?p=119817"},"modified":"2021-08-12T23:12:02","modified_gmt":"2021-08-12T23:12:02","slug":"airbnb-warns-of-delta-impact-on-bookings-shares-fall-over-4","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/airbnb-warns-of-delta-impact-on-bookings-shares-fall-over-4\/","title":{"rendered":"Airbnb warns of Delta impact on bookings, shares fall over 4%"},"content":{"rendered":"

(Reuters) – Airbnb Inc on Thursday warned of an adverse impact to its bookings due to the Delta variant of the coronavirus and a slowing pace of vaccination in the United States, sending its shares down more than 4%.<\/p>

FILE PHOTO: A woman talks on the phone at the Airbnb office headquarters in the SOMA district of San Francisco, California, U.S., August 2, 2016. REUTERS\/Gabrielle Lurie<\/figcaption>

The company expects nights and experiences booked – a measure of the number of nights and seats for experiences booked on the platform – in the current quarter to slow from the second quarter and remain below 2019 levels.<\/p>\n

The hugely popular global app, which has fought back strongly since being hit hard early in the pandemic last year, posted a more than four-fold rise in bookings to $13.4 billion in the second quarter.<\/p>\n

It expects the third quarter to be its strongest on record as more people check into its vacation rentals after the easing of COVID-19 curbs in most major economies.<\/p>\n

Active listings have been roughly stable throughout the health crisis and grew during the quarter, especially in non-urban destinations across Europe and North America, the company said.<\/p>\n

\u201cIn Q3, we are starting to see the global spread of COVID variants, a patchwork of local travel restrictions and slowing vaccinations adversely impact cancellations and growth of Nights and Experiences Booked,\u201d the company said.<\/p>\n

Hotels and other accommodation providers took a hammering last year as COVID-19 travel restrictions shut down large parts of their business.<\/p>\n

Airbnb drew plaudits, however, for shifting its focus quickly to local and long-term rentals, attracting people looking for accommodations to rent for remote working or which did not require flying.<\/p>\n

The company expects to report record third-quarter adjusted income before interest, taxes, depreciation and amortization (EBITDA) and margin.<\/p>\n

Its gross bookings surpassed Refinitiv IBES estimates of $11.34 billion. Revenue tripled to $1.34 billion in the quarter, beating estimates of $1.26 billion.<\/p>\n

The company\u2019s loss of 11 cents per share was smaller than analysts\u2019 estimate of 47 cents.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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