Airbnb, Disney revenues soar around 300% in Q2

By Ovunc Kutlu

ANKARA (AA) - Revenues of Airbnb and Disney's parks division soared around 300% in the second quarter of this year, according to their financial statements released Thursday.

Airbnb had a revenue of $1.3 billion in the April-June period, up 288% from $335 million in the same period of the previous year when the travel business was severely impacted by the COVID-19 pandemic.

The company of online marketplace for vacation rentals saw its net loss shrink to $68 million, from $575 million, year-on-year.

It had 83.1 million nights and experiences booked in the second quarter, "nearly recovering to the
same period pre-COVID levels," according to its statement. That figure was up 197% from the second quarter of 2020.

"Travel is returning to some major cities, with gross nights booked to cities such as Istanbul, Las Vegas and Sao Paulo recovering to pre-pandemic levels by the end of June," the statement added.

Airbnb, however, warned that the new COVID-19 variants may impact the travel industry.

"In the near term, we anticipate that the impact of COVID-19 and the introduction and spread of new variants of the virus, including the Delta variant, will continue to affect overall travel behavior, including how often and when guests book and cancel," it said in a letter to shareholders.

The Walt Disney Company also said Thursday its parks, experiences and products division have returned to profitability for the first time since the beginning of the pandemic when its theme parks and resorts were closed, and its cruise ship sailings and guided tours were suspended.

Disney said the pandemic's biggest impact on operating income was seen at the Disney parks, experiences and products segment due to revenue loss, but noted that results have improved since reopening its parks and resorts.

The company saw its revenue from the segment rose to $4.34 billion for the quarter ending on July 3 – up 309% from $1.06 billion in the same period of last year.

Total revenue climbed 44% to $17 billion, from $11.78 billion, year-on-year.