Welcome

Airbnb Quarterly Revenue Drops 67%; IPO Still Planned (1)

Aug. 12, 2020, 7:04 PM

Airbnb Inc. reported tumbling revenue and mounting losses in the second quarter, but the home-sharing startup is still eyeing a stock market debut before year’s end, according to people familiar with the matter.

Revenue fell to $335 million in the period ending June 30, said the people, who didn’t want to be named discussing private information. That’s down at least 67% from the more than $1 billion the company reported in the same period last year, a shift that reflects the magnitude of the impact of the coronavirus pandemic on global travel. It’s also a steep decline from the $842 ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.