Key Points
Aug 3 (Reuters) - Airbnb (ABNB.O) forecasts third-quarter revenue above market estimates on Thursday, but industry fears of softening U.S. domestic demand have sent the vacation rental firm's shares down 4.2% in after-hours trading...
The San Francisco-based company forecast revenue for the quarter between $3.3 billion and $3.4 billion, ahead of analysts' average estimate of $3.22 billion, as per Refinitiv data...
The company expects to gain from a rebound in urban and international travel but travel companies with larger U.S. exposure are losing domestic business as more consumers opt for vacations abroad...
Airbnb, which receives a majority of its revenue from outside the United States, said global cross-border bookings rose 16% in the second quarter from a year earlier and more guests were returning to cities, with urban nights booked increasing by 13% year-over-year...
Hotel operators like Marriott International (MAR.O) and Hilton Worldwide Holdings (HLT.N) also reported a rise in international bookings but a slowdown in U.S. room revenue growth as travel shifted overseas...
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