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Airbnb shares hit four-year high after Q2 beat and raised guidance
The company reported $3.6 billion in Q2 revenue, up 16.5% year over year, and lifted full-year revenue guidance to at least mid-teens growth.
Airbnb shares rose to a new four-year high on Aug. 7 after the short-term rental company posted a blowout Q2 release and increased its outlook for the full year, according to Yahoo Finance. For the quarter, Airbnb reported $3.6 billion in revenue, a 16.5% increase from the prior year period, and earnings per share of $1.37, which topped the analyst forecast of $1.26 per share. In comments following the results, Airbnb chief executive Brian Chesky pointed to artificial intelligence as a key driver of faster growth. He said AI has shortened the product development timeline substantially, helping the company ship about 80% more features year over year, and he added that Airbnb plans to spend “a lot more” on AI.
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