This comes after Bank of America analysts identified other travel companies missing earnings, leaving them with new fears that a consumer travel spending downturn nears. 

Here's how the company reported in the first quarter, compared with consensus expectations from Bloomberg: 

Revenue $2.14 billion, +18% y/y, estimate $2.06 billion

Gross booking value $22.9 billion, +12% y/y, estimate $22.32 billion

 Adjusted Ebitda $424 million, +62% y/y, estimate $326.3 million

Adjusted Ebitda margin 20% vs. 33% q/q, estimate 15.9%

EPS 41c vs. 18c y/y, estimate 30c

Nights and experiences booked 132.6 million, +9.5% y/y, estimate 131.81 million

Gross booking value per nights and experiences booked $172.88, +2.6% y/y, estimate $169.38

Free cash flow $1.91 billion, +21% y/y, estimate $1.07 billion

Despite the revenue beat in the quarter, nights and experiences booked, a key metric in the industry, posted 9.5%, falling short of expectations of a 12% increase. "It also represents the slowest rate of growth since 2020, suggesting that overall demand has normalized after an initial post-pandemic travel boom," Bloomberg said. 

Wall Street analysts were more focused on Airbnb's second-quarter guidance. The company now expects revenue for the quarter ending in June to be between $2.68 billion and $2.74 billion, down from $2.74 billion. 

Sees revenue $2.68 billion to $2.74 billion, estimate $2.74 billion (Bloomberg Consensus)

In a statement, Airbnb noted that the Easter holiday and currency headwinds were some factors in the travel spending slowdown - ahead of the peak travel season in July. 

Wall Street analysts were focused on the "underwhelming" room nights metric and weak quarter-two guidance that overshadowed better-than-expected first-quarter earnings (list courtesy of Bloomberg):

Bloomberg Intelligence analyst Mandeep Singh

"Airbnb's expectations of 8-10% top-line growth for 2Q suggests a further deceleration in room-night growth, with average daily rates likely to remain a slight tailwind"