Airbnb’s shares experienced a decline following a forecast of moderate sales growth for the latter half of the year.
The company anticipates third-quarter revenue between $4.02 billion and $4.1 billion, reflecting only an 8pc increase from the previous year. This forecast marks a notable drop compared to the nearly 13pc growth in the preceding quarter.
Airbnb’s CEO Brian Chesky expressed concerns regarding the company’s growth rate, indicating it may not be sufficient. The firm expects even tougher growth rates as it approaches the fourth quarter.
Brian Chesky shared, “The company is not growing fast enough. Third-quarter revenue will range from $4.02bn to $4.1bn. That translates into an 8pc gain from a year earlier. We projected tougher growth rates toward the end of the current period.”
