Airbnb beats on top and bottom lines for second quarter

In this articleABNB your favorite stocksCREATE FREE ACCOUNTwatch now1:0601:06Airbnb increases buyback by $6 billionClosing Bell: OvertimeAirbnb reported second-quarter results on Wednesday that beat analysts' expectations.Here's how the company did based on average analysts' estimates compiled by LSEG:Earnings per : $1.03 vs. 93 cents expectedRevenue: $3.10 billion vs. $3.04 billion expectedRevenue increased 13% from $2.75 billion during the same period last year

The company reported net income of $642 million, or $1.03 per , up from $555 million, or 86 cents per , a year earlier.In the third quarter, Airbnb expects to report revenue of $4.02 billion to $4.10 billion, or $4.06 billion in the middle of the range

Analysts were expecting $4.05 billion for the period, according to LSEG.In a letter to holders, the company said it had a strong second quarter, even against a volatile macroeconomic backdrop

President Donald Trump's sweeping tariff and trade policies plunged into chaos for much of April."Despite global economic uncertainty early in the quarter, travel demand picked up, and nights booked on Airbnb accelerated from April to July," the company said.Airbnb reported 134.4 million nights and seats booked, up 7% from a year ago and above the 133.35 million expected by StreetAccount.Gross booking value, which Airbnb uses to report host earnings, service fees, cleaning fees and taxes, totaled $23.5 billion in the second quarter

That figure is above the $22.66 billion expected by analysts polled by StreetAccount.Airbnb said it received authorization for a new repurchase gram of up to an additional $6 billion of Class A common stock

The company said it repurchased $1 billion of Class A common stock during the second quarter, and previously had authorization to purchase $1.5 billion more as of June 30.Airbnb s dropped 6% in exchange trading