Demand for Airbnb bookings continues to soar even as high gas prices and inflation weigh on consumers and the economy.
Airbnb said Tuesday that it had 103.7 million bookings on its platform during the three months ended in June, a new quarterly high for the company and a 24% increase from the same period in 2019, before its business was devastated by the pandemic.With that jump in bookings, Airbnb posted revenue of $2.1 billion, up 58% compared to the year prior. The company also reported a net income of $379 million, marking its most profitable June quarter ever.
In the first months after Covid-19 hit, Airbnb reduced its spending and cut a quarter of its global workforce to weather what its CEO then said was a"standstill" in global travel."We've kept this discipline ever since, allowing our hiring and investment plans to remain unchanged since the beginning of the year," the company said in a shareholder letter.
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