Airbnb shares drop 14% on earnings miss as company warns of slowing U.S. demand

Airbnb shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it’s seeing signs of slowing demand from U.S. customers.

Here’s how the company did compared to LSEG estimates for the quarter ended June 30:

Earnings per share: 86 cents vs. 92 cents expected

Revenue: $2.75 billion vs. $2.74 billion expected

Revenue increased 11% year over year. Airbnb reported a net income of $555 million, or 86 cents per share, down 15% from $650 million, or 98 cents per share, in the year-earlier quarter.