Founded in 2008, AirBnB is an American accommodation rental company. It represents a community platform service. This one takes care of the payment of renting of lodgings of private individuals and hotel groups. The company also offers its services to investors in para-hotel rental properties. Its business has seen a nice improvement in the second quarter of 2021 with a reduction in its net loss. However, the group has a weaker outlook for the new current quarter.
In the second quarter of 2021, AirBnB Group's revenue almost quadrupled compared to the same period last year. This brought it to $1.3 billion from $335 million a year earlier. Compared to Q2-2019, the quarterly revenue shows a 10% increase.
Also, the home rental platform managed to reduce its net loss. The latter amounted to $68 million for Q2-2021. Over the one-year period, it is an improvement of $507 million. Compared to Q2 2019, the reduction in net loss is estimated at $229 million.
For the whole of Q2 2021, the company' sadjusted Ebitda comes out positive at $217 million, compared to -$397 million in the same period last year. Moreover, the strong performance of AirBnB was driven by the increase in overall supply and demand during the quarter. This is due to the acceleration of vaccination campaigns and the lifting of certain travel restrictions.
During the second quarter of 2021, the AirBnB group's business came out strong in several geographies. This was an important parameter that also contributed to the better financial performance recorded over the entire three-month period.
The Brian Chesky-led company has seen its business grow in a nice momentum in North America in Q2-2021. In EMEA, the group's business improved significantly. This is illustrated in particular by the achievement of higher average daily rates. For the quarter as a whole, bookings were up.
Their gross value stood at $13.4 billion, up 37% compared to Q2-2019. Furthermore, at the end of Q2 2021, the company can enjoy a strengthened financial position. This is supported by a significant improvement in its cost structure during the quarter.
AirBnB Group remains less optimistic in its outlook for the third quarter of 2021. It says it expects a decline in its business over the entire new quarter. This is expected to be illustrated by a decline in bookings made on the company's platform. This decline would be a direct result of the impact of the spread of the Covid-19 Delta variant.
The company expects its total bookings to be at a lower level than before the pandemic. As a result, the company expects many bookings to be cancelled in Q3-2021.