Airbnb reports sunny summer as travel rebound persists
Gulf Times
In the third quarter, the home rental platform saw its net profit climb 46 percent year-over-year to $1.2 billion -— a result that would have been even higher without the negative impact of foreign exchange rates, the California-based company said.
Airbnb on Tuesday reported its highest quarterly profits ever, confirming that the travel industry continues its pandemic recovery in the face of historic inflation.
In the third quarter, the home rental platform saw its net profit climb 46 percent year-over-year to $1.2 billion -— a result that would have been even higher without the negative impact of foreign exchange rates, the California-based company said.
"Guest demand remains strong," it said, arguing that new revenue growth will stay strong in the long term and trips to non-urban areas "are here to stay as millions of people have newfound flexibility in where they live and work."
"At the same time, we’ve also seen recovery of urban and cross-border travel, which comprised the vast majority of our business before the pandemic," Airbnb said.
