Airbnb on Tuesday reported strong revenue growth and a new record for bookings during the first three months of the year, in a sign that demand for travel remains strong despite lingering recession fears.
The company reported revenue for the quarter grew 20 per cent to US$1.8 billion, just beating Wall Street's estimates. The company said nights and experiences booked on the platform hit a record high of over 120 million last quarter."More guests are traveling on Airbnb than ever before," CEO Brian Chesky said on a call with analysts Tuesday. "We've seen our highest number of active bookers ever, despite continued macroeconomic uncertainties.
Airbnb also reported net income of some US$117 million, compared to a net loss in the same period last year.
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