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Airbnb said Thursday its second-quarter profit jumped more than 70% over last summer, to $650 million, as revenue rose on strong bookings for summer-vacation rentals.
The San Francisco company said bookings grew 11% over the same period last year, and average rates for rentals inched up by 1%.
Airbnb forecast that bookings will continue to rise in the third quarter, pushing revenue slightly above Wall Street expectations.
The shares fell about 1% shortly after late trading began.
Airbnb has been battling complaints that high cleaning fees have pushed prices closer to, or even above, hotels for short rentals. It changed its site to display cleaning fees upfront, when consumers are price-shopping.
The rental giant is also offering more single rooms inside homes and apartments as a low-cost option, particularly for younger travelers.
And it is fighting back against cities that seek to limit or more tightly regulate short-term rentals.
Airbnb said Thursday its second-quarter profit rose from $379 million in the same period last year, when the company took $89 million in restructuring charges. Adjusted to exclude special items, Airbnb said it earned 98 cents per share.
Revenue increased 18% to $2.48 billion.
Analysts were expecting earnings of 80 cents per share on $2.42 billion in revenue, according to a FactSet survey.
Airbnb predicted that third-quarter revenue will be $3.3 billion to $3.4 billion. Analysts were expecting $3.23 billion.