Airbnb stock slides 13% as execs warn of a potential booking slowdown in the second quarter
shares plunged in early-morning trading Wednesday after the company warned of a potential slowdown in bookings over the second quarter.
Airbnb posted first-quarter earnings-per-share of 18 cents and revenue of $1.82 billion, beating the 9 cents per share and $1.79 billion targets set by Wall Street analysts, according to Refinitiv. "Nights and experiences booked will have unfavorable year-over-year comparisons in Q2 2023 as we overlap pent-up 2022 demand following the COVID Omicron variant," Airbnb said in a letter to shareholders.
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