Airbnb posts stronger second-quarter results and forecasts third-quarter revenue above estimates

Airbnb reported second-quarter results above expectations, with earnings of $1.37 a share and revenue of $3.61 billion, while gross booking value rose 16% to $27.2 billion and nights and seats booked increased 10% to 148.3 million. The company raised its full-year revenue growth outlook to at least the mid-teens from low- to mid-teens and said adjusted EBITDA margin is now expected to be at least 35.5%. CEO Brian Chesky said AI is becoming a measurable driver of performance rather than a long-term promise. Customer support costs per booking fell 16% year over year, with Airbnb's AI assistant resolving nearly 45% of issues without a human agent. Chesky also said AI cut the time from product concept to launch by 60% and helped the company ship nearly 80% more features than a year earlier, adding on the earnings call that "AI is the best thing to ever happen to Airbnb." Airbnb said hotel nights are growing roughly three times as fast as home rentals, with about 35% of first-time hotel guests later returning to book a home, while expansion markets grew about twice as fast as core markets and first-time booker growth accelerated to 11%. The company also outpaced major online travel rivals in the quarter, though some analyst models still imply downside from Friday's share-price jump.