Key Takeaways

Airbnb ( ABNB ) shares pulled back slightly Friday, a day after the vacation rental site warned that economic conditions were leading consumers to pull back on travel spending.

In a letter to shareholders along with its first-quarter results, the company said, "In the U.S., we've seen relatively softer results, which we believe has been largely driven by broader economic uncertainties." Airbnb explained it now expects its second-quarter average daily rate (ADR) to be "approximately flat year-over-year," and adjusted EBITDA margin "to be flat to down slightly."

In the first quarter, the company reported earnings per share of $0.24, with revenue up 6% to $2.27 billion. Both were slightly above Visible Alpha forecasts.

Airbnb noted that the rise in revenue was primarily because of "solid growth in nights stayed." Nights and experiences booked gained 8% to 143.1 million.

Shares of Airbnb are down about 6% in 2025.

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