Airbnb posts 2Q profit of $379 million on record bookings

By DAVID KOENIG
AP Business Writer

Airbnb is reporting a profit of $379 million for the second quarter, and it says bookings were a record. The company also said Tuesday it will spend up to $2 billion to buy its own stock, something that usually drives up the price of shares. The results were a reversal from losses in the second quarter of both last year and 2019. Airbnb is benefitting from the increase in travel and the exodus of workers from offices, which frees them to work from just about anywhere they can get Internet access. Airbnb says bookings in the second quarter were about one-fourth higher than last year and the second quarter of 2019.