Excerpt from PhocusWire
Airbnb revenue climbed 300% year-over-year for the second quarter of 2021 and surpassed Q2 2019 figures by 10%.
Reporting its Q2 2021 financial results, the home-share giant posted revenue of $1.3 billion for the quarter, significantly exceeding Q2 2020 revenue of $335 million.
Year-over-two-year revenue growth grew from 5% in Q1 2021 to 10% in Q2 2021. The company attributes the sequential improvement to continued strength in North America, improvement in EMEA and higher average daily rates.
On an adjusted EBITDA basis, Airbnb was profitable: Adjusted EBITDA in Q2 2021 was $217 million compared to a loss of $397 million in Q2 2020 and a loss of $43 million in Q2 2019.
Adjusted EBITDA margin was 16%, an increase of 20% compared to Q2 2019. Airbnb attributes the improvement to the strength of its revenue recovery as well as an improved cost structure.
“Our business dramatically improved with the rollout of vaccines and the easing of some travel restrictions. While conditions aren't yet normal, they are improving. People's desire to travel, combined with our tightly managed expenses, drove a return to a positive top-line growth with materially improved adjusted EBITDA,” Airbnb co-founder and CEO Brian Chesky said in a call with analysts.
“But here’s the most important fact: Our business improved without the recovery of two of our strongest historical segments, urban travel and cross-border travel. We expect the return of urban and cross-border travel to be significant tailwinds over the coming quarters.”
Net loss for the quarter was $68 million, an improvement of $507 million compared to Q2 2020 and $229 million compared to Q2 2019.
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