Technology Airbnb shares drop 14% on earnings miss as company warns of slowing U.S. demand

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Airbnb shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it’s seeing signs of slowing demand from U.S. customers.

Here’s how the company did compared to LSEG estimates for the quarter ended June 30:

Revenue increased 11% year over year. Airbnb reported a net income of $555 million, or 86 cents per share, down 15% from $650 million, or 98 cents per share, in the year-earlier quarter.

The vacation rental company guided to third-quarter revenue of $3.67 billion to $3.73 billion, but also warned that it expected moderation in year-over-year growth in its key “Nights and Experiences” category, relative to the current quarter. It also cautioned that it was “seeing shorter booking lead times globally and some signs of slowing demand from U.S. guests.”

 
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