Airbnb shares slide on lower revenue forecast despite a doubling of net income

Airbnb's profit more than doubled last quarter, but management's disappointing revenue forecast sparked a roughly 7% drop in its stock in after-market trading. The San Francisco-based short-stay home sharing app said Wednesday that its net income jumped to $264 million from $117 million a year earlier, on revenue that rose 18% to $2.14 billion. Earnings per share in the quarter jumped to 41 cents; analysts surveyed by FactSet expected per-share earnings of 23 cents. Earnings growth was partly driven by a shift in the Easter holiday, which came during the first quarter this year versus the second quarter in 2023. Easter is a significant travel holiday.