Airbnb posted in-line first-quarter earnings after the bell Thursday. The company’s revenue forecast for the second quarter was weaker than analysts had expected. Airbnb said the business saw “softness” in travel from Canada to the U.S. toward the end of the quarter. Airbnb CEO Brian Chesky appears at “The Game Plan: Strategies for Entrepreneurs” at Airbnb Open in Los Angeles on Nov. 19, 2016. Kurt Krieger – Corbis | Getty Images Entertainment | Getty Images
Airbnb reported results for the first quarter that were mostly in line with estimates, but the company issued a disappointing revenue forecast for the current period.
Shares declined more than 5%.
Here’s how the company did compared to LSEG estimates:
Earnings per share: 24 cents vs. 24 cents expected Revenue: $2.27 billion vs. $2.26 billion expected
Revenue increased 6% from about $2.1 billion a year ago. Net income fell to $154 million, or 24 cents per share, from $264 million, or 41 cents per share, in the same period a year earlier.
For the second quarter, Airbnb said it