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Airbnb pops 14%, heads for record rally on earnings beat

Airbnb's stock surged 14% following the release of its first-quarter earnings, which significantly outperformed expectations. The company reported a revenue of $2.14 billion, surpassing the anticipated $2.06 billion, and an adjusted earnings per share of 41 cents, beating the expected 24 cents. This strong performance was driven by a 12% increase in gross booking value to $22.9 billion and a 9.5% rise in nights and experiences booked to 132.6 million. Additionally, Airbnb's free cash flow reached $1.9 billion, up from $396 million the previous year, with a margin of 46%. The company also announced a $6 billion share buyback program, signaling strong confidence in its future growth. Despite these positive results, Airbnb forecasted a slight revenue growth for the second quarter, projecting between $2.68 billion and $2.74 billion, which is below the $2.74 billion expected by analysts.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/airbnb-pops-14-heads-for-record-rally-on-earnings-beat/ar-AA1z4klB ]