Airbnb's Q2 outlook disappoints, stock slides.

Airbnb's Q1 2023 results beat estimates with revenue of $1.82B, marking the company's first GAAP profitable Q1 with $117M of net income. The company expects Q2 revenue to be in-line with estimates, with Y/Y growth in nights and experiences booked to be lower than revenue growth. Airbnb's board has approved a new share repurchase authorization of up to $2.5B of class A common stock. The company anticipates a FY 2023 adj. EBITDA margin that is broadly in-line with FY 2022.