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Airbnb shares drop 12% as company flags weakening US demand
Vacation rental company reports second-quarter profit of $555m compared with last year’s $650m
The vacation rental company Airbnb forecast third-quarter revenue below Wall Street estimates on Tuesday and reported a lower second-quarter profit, as it flagged weakening demand from US customers. Booking lead time is an important metric in the travel industry and refers to the number of days between the reservation date and actual arrival. The travel reservations provider Booking also said earlier this month that lead times had shrunk in the second quarter and were expected to shrink further in the third.
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