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- Airbnb forecast fourth-quarter revenue slightly below Wall Street estimates on Wednesday, as tourists cut back on their travel plans due to rising costs, uncertain economic conditions and geopolitical turbulence.The San Francisco-based company forecast fourth-quarter revenue between $2.13 billion and $2.17 billion, below average analysts' estimate of $2.18 billion, according to LSEG data.
The company, which receives a majority of revenue from outside the United States, also said it expects its bookings growth to moderate in the fourth quarter relative to the third quarter when international travel demand soared and domestic travel to cities rebounded during the summer months. In August, the short-term rental company said it continues to see signs of travelers returning to cities after it beat second-quarter profit and revenue estimates.
Meanwhile, its Nights and Experiences booked in Asia Pacific saw a 27% rise from a year earlier, aided by cross-border recovery with outbound travel from China more than doubling in the same period. Smaller Asia Pacific markets such as Thailand, Hong Kong and Indonesia also saw over 30% boost in gross bookings.
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