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Airbnb The company reported that the company reported Fourth quarter revenue and beat analysts estimated revenue.
According to LSEG’s survey of analysts, the company’s performance compared to Wall Street expectations.
- Earnings per share: 73 cents, estimated at 58 cents
- income: $2.48 billion vs. $2.42 billion
Revenues rose 12% from $2.22 billion in the same period last year. Airbnb reported net revenue of $461 million, at 73 cents per share. A year ago, Airbnb reported a loss of $349 million, or 55 cents per share.
In the first quarter, Airbnb is expected to report revenue between $2.23 billion and $2.27 billion. According to LSEG, analysts expect $2.3 billion in the period. Airbnb said it benefited from Easter and the additional days of February in the first quarter of 2024.
Airbnb also said adjusted profit in the fourth quarter was $765 million, a year-on-year increase of 4%. According to StreetAccount, analysts are expected to have $653.5 million.
In a letter to shareholders, the company said it has rebuilt its technology stack and has introduced new product updates in recent years that are driving higher conversion rates. The company also teased the new product to be launched in May, although no other details were disclosed.
“Airbnb is fundamentally a stronger company than the company a few years ago,” the letter said. “We will continue to implement a multi-year strategy to refine our core services at this momentum in 2025, Accelerate global market growth and launch and expand new products.”
The company reported 111 million nights and booking experience, up 12% from the same period last year, surpassing STREETACCOUNT’s forecast of 108.7 million. Airbnb used to report total booking value for hosting revenue, service fees, cleaning fees and taxes, totaling $17.6 billion in the fourth quarter. That exceeded analysts’ expectations of $17.2 billion by StreetAccount.
Airbnb.org, the nonprofit founded by the company, has more than 19,000 people and 2,300 pets after that. Devastating wildfire It broke out in Los Angeles last month. The nonprofit has pledged 100,000 free nights and received $27 million in donations, including $18 million from Airbnb and its founders.
The company said it has over 5 million hosts and 8 million active lists worldwide. The company said the average daily interest rate in the fourth quarter increased to $158 from a year ago.
Airbnb shares rose about 7% in the year ahead of Thursday’s report, surpassing Nasdaq stock, which rose more than 3%.
The company will hold a quarterly call with investors at 4:30 pm ET.
