Airbnb benefited from a recovery in tourism in the spring, with a record number of bookings making it profitable for the first time this time of year. The online accommodation booking platform posted quarterly revenue of $2.1 billion (+58% year-on-year), according to its earnings report released on Tuesday.

It generated 379 million net profit, compared to losses of 68 million in the same period of the previous year. These numbers are in line with analyst forecasts, but they were probably expecting better as Airbnb shares fell 8% in e-commerce after the close of trading. “Our second-quarter results show that Airbnb has achieved large-scale growth and profitability,” the California-based group said.

Cancellations caused by air travel interruptions

The platform registered 103.7 million “bookings of overnight stays and experiences” from April to June. During the period, the number of cancellations was “higher than our internal estimates,” however, Dave Stephenson, the company’s chief financial officer, acknowledged during a conference call with analysts. Cancellations caused in particular by those of international flights around the world, particularly in North America.

But the leader said he felt confident for the current quarter, that of the summer vacations in the northern hemisphere. “We’re seeing strong tourism demand around the world,” he said. According to the statement, Airbnb hit its record single-day revenue on July 4, “a sign of a strong summer season.”

Although many companies have had to freeze hiring or part with their employees in the face of the economic crisis caused by inflation, the tourist platform says it is “well prepared for anything that may happen.” “At the height of the pandemic, we made many difficult decisions to reduce our expenses, and our business emerged healthier and more focused,” management said.