“We have seen our highest number of active bookers ever despite continued macroeconomic uncerainty,” CEO Brian Chesky said during a call with analysts.Īirbnb has grown increasingly concerned about rising rates, which could be pricing out some consumers. 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. Revenue climbed 20% to $1.82 billion, beating Wall Street’s forecast of $1.79 billion, according to a FactSet survey.

The company’s profit compared with a loss of $19 million a year earlier and worked out to 18 cents per share. The weak outlook overshadowed Airbnb’s first profit in the first three months of the year, a seasonally slow period for travel. The San Francisco-based company’s shares fell nearly 12% in extended trading hours after Airbnb posted the forecast.

Airbnb said Tuesday that it earned $117 million in the first quarter as revenue rose during the ongoing recovery in travel, but the company’s outlook for late spring and early summer disappointed investors.

Airbnb extended stays