Airbnb posted a significant increase in revenue by 300% in the second quarter of 2021, 10% over the same period in 2019, according to a press release by Airbnb on Thursday.
- The home-share giant posted revenue of $1.3 billion for the quarter, significantly surpassing Q2 2020 revenue of $335 million, attributable to continued strength in North America and higher average daily rates.
- Airbnb’s second-quarter nights and experiences bookings nearly tripled from last year, almost matching pre-COVID levels.
- The gross booking value of the company more than quadrupled from last year to $13.4 billion, 37% above 2019 levels, driven by the recovery of nights and strength of ADR.
- Adjusted EBITDA margin was 16%, an increase of 20% compared to Q2 2019. Airbnb attributes the growth in strength to its revenue recovery and improved cost structure.
Airbnb’s business improved without the recovery of its strongest historical units, urban travel, and cross-border travel. Net loss for Q2 was $68 million, an increase of $507 million compared to 2020 and $229 million in 2019. ABNB down 2.38%, premarket trading