Airbnb posts much smaller Q1 loss, revenue doubles from 2021

By DAVID KOENIG
AP Business Writer

Airbnb is getting a boost from the rebound in travel. The lodging-reservations company said Tuesday that while it lost $19 million in the first quarter, that was much better than the $1.2 billion loss it suffered in the same quarter last year. Airbnb says bookings are up, and revenue is nearly double 2021 levels, up to $1.51 billion. The loss was smaller than analysts expected, and revenue was slightly higher than Wall Street had forecast. However, rising prices that have long helped Airbnb may be easing. The company said average daily rates rose only 5% from a year ago because there were more urban rentals with relatively lower prices.