The online portal for booking and renting accommodation, Airbnb, has jumped in profits in its fourth fiscal quarter of 2022. Airbnb earned $0.48 per share for the quarter, up from $0.080 per share a year ago, beating analyst estimates of $0.254 per share. The absolute profit jumped from 55 to 319 million dollars (297 million euros).
Revenue of $1.9 billion was above expectations ($1.86 billion) and higher than a year earlier ($1.53 billion).
Airbnb was in the black for the full year, earning $1.9 billion after ending fiscal 2021 in the red by $352 million. Revenue also rose sharply year-on-year, improving to $8.4 billion from $5.99 billion (analyst estimate: $8.36 billion).
The number of overnight stays for cross-border trips increased by 49 percent year-on-year and for stays in major cities by 22 percent. For the current quarter, Airbnb continues to see strong demand. Among other things, Europeans booked accommodation for the summer earlier this year than in 2022, it said.
For the current year, Airbnb predicted revenue of between $1.75 billion and $1.82 billion, beating analysts’ expectations. At the end of the year, 6.6 million accommodations were on offer on the platform – 16 percent more than a year earlier.
Airbnb shares traded 9.13 percent higher at $131.90 on the NASDAQ.
Editorial office finanzen.net / dpa-AFX
Leverage must be between 2 and 20
No data
More news about Airbnb
Image sources: Tero Vesalainen / Shutterstock.com