The San Francisco-based company's shares fell nearly 12% in extended trading hours after Airbnb posted the forecast.
The weak outlook overshadowed Airbnb's first profit in the first three months of the year, a seasonally slow period for travel.
The company's profit compared with a loss of $19 million a year earlier and worked out to 18 cents per share. Revenue climbed 20% to $1.82 billion, beating Wall Street's forecast of $1.79 billion, according to a FactSet survey.
Nights and experiences booked, a closely watched measurement for Airbnb, increased 19% to 121 million, and the company valued the bookings made in the quarter at $20.4 billion, a 19% increase.
"We have seen our highest number of active bookers ever despite continued macroeconomic uncerainty," CEO Brian Chesky said during a call with analysts.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
CHINA'S CATL FORMS JOINT VENTURE WITH STELLANTIS TO BUILD ELECTRIC VEHICLE BATTERY FACTORY IN SPAIN
Chinese electric battery company CATL and automaker Stellantis will build a major battery factory in northern Spain, the partners announced this week.
META SHAREHOLDERS SEEK SANCTIONS FOR SANDBERG, ZIENTS FOR DELETING CAMBRIDGE ANALYTICA EMAILS
2018 shareholder lawsuit that alleged Facebook officers and directors violated both the law and their fiduciary duties in failing for years to protect the privacy of user data.
TIKTOK ASKS FEDERAL APPEALS COURT TO BAR ENFORCEMENT OF POTENTIAL BAN UNTIL SUPREME COURT REVIEW
TikTok asked a federal appeals court on Monday to bar the Biden administration from enforcing a law that could lead to a ban on the popular platform until the Supreme Court reviews its challenge to the statute.
BOEING LAYS OFF HUNDREDS IN WASHINGTON AND CALIFORNIA AS PART OF CUTS ANNOUNCED PREVIOUSLY
Boeing has laid off hundreds of additional employees in Washington state and California as part of planned cuts that will eventually reduce the company’s workforce by about 17,000.
NASA PUSHES BACK ASTRONAUT FLIGHTS TO THE MOON AGAIN
NASA announced more delays in sending astronauts back to the moon more than 50 years after Apollo.
BILLIONAIRE WHO PERFORMED THE FIRST PRIVATE SPACEWALK IS TRUMP'S PICK TO LEAD NASA
A tech billionaire who bought a series of spaceflights from Elon Musk’s SpaceX and conducted the first private spacewalk was nominated by President-elect Donald Trump to lead NASA.
'MOANA 2' CRUISES TO ANOTHER RECORD WEEKEND AND $600 MILLION GLOBALLY
The Walt Disney Co.’s animated film “Moana 2” remained at the top of the box office in its second weekend in theaters as it brought in another record haul.
FROM 'LOVE ACTUALLY' TO 'BLACK DOVES' WITH BEN WHISHAW, KEIRA KNIGHTLEY HAS YOUR CHRISTMAS COVERED
Keira Knightley starred in one of the most popular Christmas films of the 21st century, the 2003 romantic comedy “Love Actually.”
NVIDIA SLIDES AFTER CHINA SAYS IT'S PROBING THE AI CHIP COMPANY FOR VIOLATING ANTI-MONOPOLY LAWS
Shares of Nvidia slid this week after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws.
CALIFORNIA TO CONSIDER REQUIRING MENTAL HEALTH WARNINGS ON SOCIAL MEDIA SITES
California, home to some of the largest technology companies in the world, would be the first U.S. state to require mental health warning labels on social media sites if lawmakers pass a bill introduced this week.
