SHARES in the online vacation rental company Airbnb dropped by 12% on Tuesday, in the midst of an ongoing backlash in Spain against a tourism model that is dependent on such temporary accommodation.
The firm forecast revenues for the third quarter of the year below Wall Street estimates yesterday, news agency Reuters reported, citing weakening demand from customers in the United States’ market.
Growing economic uncertainty in the US is putting pressure on domestic travel as Americans react with caution, Reuters added.
The company reported a quarterly profit of $555 million (€508 million), compared to $650 million (€595 million) last year.
The company also said it was expecting lower growth in nights booked in the third quarter of the year and is already …