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Airbnb's second-quarter profit fell 15% despite its revenue rising 11% on stronger bookings
Airbnb says its profit fell 15% in the second quarter from a year earlier, as higher income taxes cut into the short-term rental giant’s bottom line even as bookings and revenue rose.
Airbnb says its profit fell 15% in the second quarter from a year earlier, as higher income taxes cut into the short-term rental giant’s bottom line even as bookings and revenue rose. While booking growth was strong, management said that in July it noticed that many customers were opting to reserve an Airbnb property within a couple of weeks of when they need to stay, rather than doing so months in advance. Nights booked at Airbnb rentals in the Paris region around the Olympics through the end of the second quarter were more than double the same period last year, with a 37% increase in active listings, the company said.
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