Airbnb stock plummets on weak Q2 bookings outlook and cautious earnings report.

Despite beating analyst estimates on Q1 earnings, Airbnb's shares fell by 10% in extended trading due to a cautious outlook for Q2. The company warned of tough comparables for Q2 due to pent-up demand in 2022 following the COVID Omicron variant. Airbnb reported $1.82 billion in revenue for Q1, up 20% YoY, and a net income of $117 million, marking the first time it has been profitable during its first quarter on a GAAP basis. The company reported 121.1 million nights and experiences booked in Q1, up 19% YoY, and intends to focus on making hosting on the platform just as popular as travel, providing affordable stays for guests, and increasing its presence in "less mature" international markets.