Airbnb warns of U.S. growth slowdown
The company warned that revenue growth will slow in the current quarter due to "weaker demand from U.S. customers" during the summer travel season
Airbnb forecast third-quarter revenue below estimates on Tuesday and warned of shorter booking windows, suggesting travelers were waiting until the last minute to book due to economic uncertainty.
Key takeaways
- Domestic travel in the United States has been pressured since the start of the year as more Americans have grown cautious about travel spending on worries about the health of the economy;
- The company expects moderating growth in nights booked in the third quarter and said it was experiencing shorter booking lead times globally;
- "The slowdown guided for the third-quarter echoes what others have noted in the travel industry," said Dan Wasiolek, Morningstar equity analyst.
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