SAN FRANCISCO (Associated Press) — Airbnb skidded to its biggest loss on record last Wednesday after the online vacation rental platform posted a 15% drop in second-quarter profit.
The San Francisco-based company said higher income taxes cut into its profits even as bookings and revenues rose. “We are seeing shorter booking lead times globally and some signs of slowing demand from U.S. guests,” CEO Brian Chensky said.
Airbnb reported net income of $555 million, or 86 cents per share, for the three months ending June 30. Analysts expected profit of 91 cents per share. For the third quarter, Airbnb projected revenue between $3.67 billion or $3.73 billion, below Wall Street’s forecast of $3.84 billion.
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To view full Airbnb financials, click here.
