New Delhi, Aug. 7 -- Shares of Airbnb, the vacation rental platform, surged 16% on Friday, 7 August, to a more than four-year high of $176.20 apiece, as investors cheered the company's better-than-expected June-quarter performance and upbeat guidance for the current quarter, easing concerns over the impact of the Middle East conflict on global travel demand.

The company reported second-quarter revenue of $3.6 billion, up 16.5% year-on-year (YoY). Gross booking value increased 16% to $27.2 billion. The strong performance suggests that global travel demand has remained resilient despite the six-month-long conflict between the US and Iran.

Hotel operators and online travel companies expect demand to remain healthy, supported by upcoming in...