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Airbnb Sees Signs of Rebound; Loss Widens on Debt Payment
Bloomberg 5/13/2021 Olivia Carville
(Bloomberg) Airbnb Inc. beat analysts’ estimates for bookings in the first quarter, reflecting pent-up demand for travel after a year of Covid-19 restrictions. But the lingering effects of the pandemic could still be seen as the company’s loss ballooned, a result of repayment of debt it took on during the height of the crisis.
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The San Francisco-based company, which went public in December, reported $10.3 billion in gross bookings in the three months ended March 31, a 52% increase from the year earlier period and well beyond the $7.57 billion analysts’ had predicted. Revenue rose 5% to $887 million, also beating analyst’s projections.
Airbnb Sales Beat Estimates, Showing Demand Amid Covid Surge msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.