Airbnb, Inc. shares surged 8.87% over the 24-hour period, driven by the company's second-quarter financial results that surpassed analyst expectations and an upbeat forecast that signaled accelerating growth.

The vacation rental platform reported Q2 revenue of $3.61 billion, up 17% year-over-year and above the consensus estimate of $3.58 billion. Adjusted earnings per share reached $1.37, easily beating the $1.25 analyst consensus. Gross booking value grew 16% to $27.2 billion, while Nights and Seats Booked increased 10% to 148.3 million, accelerating from the prior quarter. The strong performance was fueled by resilient global travel demand and a notable boost from the FIFA World Cup, which propelled North American bookings to their highest growth rate in nearly three years.

More importantly, Airbnb raised its full-year revenue growth outlook to "at least mid teens" from the previous "low to mid teens" range, and issued third-quarter revenue guidance of $4.69 billion to $4.77 billion, significantly above the $4.61 billion Street consensus. The company also highlighted that its AI-driven platform improvements are paying off, reducing concept-to-delivery time by up to 60% and enabling nearly 80% more feature launches year-over-year. Several Wall Street analysts subsequently raised their price targets, further bolstering investor sentiment.