Airbnb posts much smaller Q1 loss, revenue doubles from 2021

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Airbnb is getting a boost from the rebound in travel

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Airbnb sharply narrowed its first-quarter loss to $19 million, as the rebound in travel after two years of pandemic caused bookings to jump and revenue to nearly double from a year ago.

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However, Airbnb said, the possibility of future COVID-19 outbreaks, the war in Ukraine and inflations pose risks to its business.

The loss that Airbnb reported was a sliver of the $1.17 billion loss it suffered a year earlier.

Revenue rose to $1.51 billion.

On a per-share basis, the loss was 3 cents.
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Analysts expected the San Francisco company to lose 25 cents per share on revenue of $1.45 billion, according to a FactSet survey.

Shares of Airbnb rose 5% in the first minutes of after-hours trading. They had lost 5% during the regular session.

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Credit: abcnews.go.com /

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