A number of brokerages and real estate tech companies continue rolling out their Q2 numbers, and we’re keep tabs on the big wins. Next up: Airbnb
Rental giant Airbnb had a decidedly better Q2 than Q1. After hard-felt pandemic struggles, the short-term rental company saw revenue jump nearly 300 percent between April-June, compared to Q2 of 2020, according to it’s earnings report.
The report shows that Airbnb brought in more than $1.3 billion in revenue during the second quarter of this year—surpassing analysts’ expectations that the company would clear $1.23 billion in revenue.
However, Airbnb still saw a significant net loss to the tune of $68 million in Q2. It is a marked improvement from earlier this year when Airbnb lost a staggering $1 billion between January-March, 2021.
Airbnb went public last December, peaking at just under $220. According to Inman, since then, Airbnb’s stock price has fallen significantly, and upon the release of the Q2 earnings report, shares were trading just above $151.
“For the past year, we’ve benefited from the adaptability of our business model, and we’ve focused on driving product innovations to meet the changing needs of our guests,” an Airbnb letter to shareholders reads. “The strength of our Q2 results indicate two things: people are ready to travel, and Airbnb is ready to host them.”