Airbnb Quarterly Revenue Drops 67%; IPO Still Planned
- Home share site also records a wider loss in second quarter
- A stock listing is back on track with recent travel rebound
Photographer: Andrew Harrer/Bloomberg
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Airbnb Inc. reported tumbling revenue and mounting losses in the second quarter, but the home-sharing startup is still eyeing a stock market debut before year’s end, according to people familiar with the matter.
Revenue fell to $335 million in the period ending June 30, said the people, who didn’t want to be named discussing private information. That’s down at least 67% from the more than $1 billion the company reported in the same period last year, a shift that reflects the magnitude of the impact of the coronavirus pandemic on global travel. It’s also a steep decline from the $842 million in sales in the first quarter, according to financial information viewed by Bloomberg.