Airbnb's Q2 outlook leads to stock slump.
Airbnb reported Q1 gross booking value of $20.4B, up 19% YoY, and revenue of $1.8B, up 20% YoY. The company's adjusted EBITDA was up 14% to $262M, and free cash flow was $1.6B, up 32% YoY. However, Airbnb's Q2 outlook disappointed investors, with revenue expected to be between $2.35B to $2.45B, and adjusted EBITDA to be lower on a margin basis. Shares of Airbnb fell 9.66% in after-hours trading.