What's going on?

Looks like people are finally getting outnabout again: online travel platform Airbnb booked quarterly revenue that beat analysts� expectations, initially sending its shares up 2% on Friday.

What does this mean?

Vaccine rollouts sure are proving a shot in the arm for Airbnb. With travel restrictions gradually lifting, the company�s global bookings were up 13% last quarter compared to the same time last year. Unlike a trip to Venice in peak tourist season, that was even better than investors had imagined � and a welcome change after a solid year of declines.

The value of those bookings was also higher than expected as customers treated themselves to more expensive trips � with non-urban and whole-family vacations in particular more popular than usual. The only downer was Airbnb�s profitability, which fell well short of estimates as the company repaid some of the hefty debt it took on at the height of the pandemic.

Why should I care?

For markets: IP-whoa there.

Travel demand may be rising, but Airbnb�s five-month-old stock price is over 30% below its mid-February highs. True, there�s been a broader tech selloff, but other recent stock market debutantes � including DoorDash and Coinbase � have done particularly poorly recently too. Whether that�s because investors are worried about inflation or just because they realized they got a bit ahead of themselves, they might now be a bit more measured about upcoming market listings.

Zooming out: Not another box set.�

One company that�s less happy about families leaving the house again is Disney, which admitted late last week that its formerly fast-growing Disney+ streaming service attracted fewer new customers than expected last quarter. While Mousecorp maintains it can more than double subscriber numbers to a Netflix-esque 260 million by 2024, Disney+ will also need to improve its average revenue per customer. That�s currently less than half that of its streaming rival, which is only now generating enough cash to actually fund its operations.