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Airbnb stock falls sharply on cautious forecast and as record bookings miss estimates

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Nights booked on Airbnb Inc. hit a record high in the first quarter as more guests traveled overseas and returned to cities, leading to the companyโ€™s first profitable start to the year on record, executives announced Tuesday.

But executivesโ€™ forecast was less bullish, even though they expect a strong summer travel season and second-quarter revenue growth. They cautioned that growth in nights and experiences booked will be โ€œunfavorableโ€ compared with the year-ago quarter, when there was a surge in travel demand as fears about…

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