May 8 (Reuters) - Vacation rental company Airbnb ( ABNB )

reported a higher quarterly profit on Wednesday,

boosted by an increase in travel in international markets as

North American bookings decelerated during the period.

Accommodation companies in the first quarter have seen the

demand for travel in regions outside of North America boost

earnings as travel accelerates in Asia Pacific and Latin

America. The company said it expects to see steady growth

throughout 2024, spurred by travel demand centered around

international events.

Nights and experiences booked in the first quarter increased

9.5% year-over-year to about 133 million driven by a 21% and 19%

growth in bookings in Asia-Pacific and Latin America,

respectively. The company said bookings in North America

"slightly decelerated" during the quarter.

The San Francisco-based company reported net income of $264

million, or 41 cents per share, for the quarter ended March,

compared with $117 million, or 18 cents per share, during the

same period in 2023.

Total first quarter revenue rose 18% year-over-year to $2.14

billion.

The average cost per night in an Airbnb ( ABNB ) or average daily

rate was $173 in the reported quarter, a 3% rise compared to the

year prior. The company saw an increase in shorter stays and

bookings of entire homes which drove higher margins.

It forecast second-quarter revenue between $2.68 billion and

$2.74 billion, below analysts' estimates of $2.74 billion, due

in part to currency exchange rates and the timing of Easter

which was beneficial to the first quarter, but may weigh on

earnings in the second quarter, the company said.

Looking ahead to the summer, Airbnb ( ABNB ) said it expects

year-over-year revenue growth to accelerate in the third-quarter

due in part to travel demand centered around the Olympics and

Euro Cup.