Airbnb Posts 1st Profitable Year As Travel Rebounds, Share Price Jumps 9%
NDTV
Airbnb, a home-rental platform, said it made a profit of $319 million in the final quarter of last year on revenue of nearly $2 billion.
Airbnb on Tuesday reported its first annual profit, with revenue surging in the final three months of 2022 as travel bookings rebounded. The home-rental platform said it made a profit of $319 million in the final quarter of last year on revenue of nearly $2 billion.
Airbnb finished 2022 with a net income of $1.9 billion compared with a loss of $352 million the prior year, the San Francisco-based company reported.
"We are excited to see the continued strong demand in (the first quarter of this year)," Airbnb said in a letter to investors.
"We're particularly encouraged by European guests booking their summer travel earlier this year; the market share gains we are seeing in Latin America, as well as the continued recovery within Asia Pacific."
