Shortterm rental company Airbnb forecast firstquarter revenue above Wall Street estimates on Tuesday, as it expects a boost from strong crossborder travel and longerduration bookings.

International travel demand is expected to remain strong this year as global air connectivity increases and travelers flock to Asian and Latin American countries, while domestic travel demand plateaus in North America.

The San Franciscobased company expects revenue between 2.03 and 2.07 billion, compared with the average LSEG estimate of 2.03 billion.

Making sure that we invest in these expansion countries where we39;re underpenetrated, I think that39;s going to continue to drive growth for us for the rest of the year, CFO David Stephenson said on a call with analysts.

The company, which now has over 5 million hosts and 7.7 million active listings, said it expects the growth rate of nights booked in the first quarter to moderate compared to the fourth quarter of 2023.

Shares of Airbnb fell 5 in extended trading, reversing course following a 9 rise after the company39;s earnings beat. Fourthquarter adjusted earnings per share, excluding nonrecurring tax items, came in at 76 cents, above estimates of 62 cents.

Travelers booked 98.8 million nights and experiences during the quarter ended Dec. 31, up 12 from a year earlier, with the strongest growth in Asia Pacific and Latin America. Nights booked in China were up nearly 90 yearoveryear.

Average daily rates, or the cost per night, rose…