Airbnb’s shares took a hit on Tuesday after the accomodation rental platform announced a disappointing business outlook.
The company expects revenue in the current quarter to be 12% to 16% higher than a year earlier, it said in a statement in the US on Tuesday after the stock market closed.
Investors had expected a more optimistic outlook. The stock lost more than 10% in electronic trading after the stock market closed, whereas it had already gained nearly 50% of its value this year.
Airbnb had seen its revenue rise 20% to $1.8 billion (more than €1.6 billion) in the first quarter, and posted a net profit of $117 million, up from a loss a year earlier.