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Airbnb reports $1.5 billion loss in three months


Airbnb reports $1.5 billion loss in three months
Airbnb reported that its first-quarter loss more than tripled, to $1.51 billion, as travel remained depressed by the pandemic and the company was weighed down by costs from past borrowing.
However, revenue topped the same period in 2019, and Airbnb recorded billions in new bookings as the rollout of vaccines against COVID-19 raised hopes for a travel boom.
The home-sharing business said in a letter to shareholders that travel is starting to return, “and we expect a travel rebound unlike anything we have seen before.”
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Still, Airbnb expressed concern about travel restrictions and lockdowns in Europe, a key market for summer rentals. ....

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