Airbnb says it lost nearly $1.2 billion in the first quarter, about three times as much as it lost a year ago, as travel remains depressed because of the pandemic
Airbnb reported Thursday that its first-quarter loss more than tripled, to $1.17 billion, as travel remained depressed by the pandemic and the company was weighed down by costs from past borrowing.
The home-sharing business said in a letter to shareholders that travel is starting to return, “and we expect a travel rebound unlike anything we have seen before.”
Still, Airbnb expressed concern about travel restrictions and lockdowns in Europe, a key market for summer rentals. The San Francisco-based company said it is too early to predict…
Source news reuters.com, click here to read the full news.