Brian Chesky, CEO of Airbnb speaking on CNBC’s Squawkbox on May 4th, 2023.CNBCShares of Airbnb fell as much as 10% in extended trading Tuesday despite first-quarter earnings that beat analyst estimates on the top and bottom lines, as it offered slightly weaker-than-expected guidance and a cautious outlook for the current quarter.Here’s how the company did as per consensus analyst estimates by Refinitiv:EPS: 18 cents vs. 9 cents expected Revenue: $1.82 billion vs. $1.79 billion expected Total revenue rose 20% year over year. Airbnb swung to a net profit of $117 million, or 18 cents per share, from a net loss of $19 million, or 3 cents per share, in the year-earlier period. The figure marks the first time Airbnb has been profitable during its first quarter on a GAAP basis.In its shareholder letter, Airbnb said it had a “strong start” to the year, and it is looking forward to another “strong summer travel season.” However, it warned that second-quarter comparisons would be tough, saying, “Nights and Experiences Booked will have unfavorable year-over-year comparisons in Q2 2023 as we overlap pent-up 2022 demand following the COVID Omicron variant.”The home-sharing platform forecast second-quarter revenue between $2.35 billion and $2.45 billion. Analysts polled by Refinitiv expected $2.42 billion.During its quarterly call with investors, Airbnb said it also plans to integrate artificial intelligence features, including GPT-4, into its platform over the next year or so. The …
