Shares of Airbnb dropped by 10 percent in extended trading despite beating analyst estimates for first-quarter earnings. The vacation rental company provided slightly weaker-than-expected guidance and a cautious outlook for the current quarter, which led to the decline in share price. Earnings per share were 18 cents versus the 9 cents expected. Revenue was $1.82 billion versus the $1.79 billion expected. Total revenue increased by 20 percent compared to the previous year, and Airbnb achieved a net profit of $117 million, marking its first profitable first quarter on a GAAP basis. Airbnb said that the second quarter could face challenging year-over-year comparisons due to pent-up demand in 2022 following the COVID Omicron variant.