Brian Chesky, co-founder and CEO of Airbnb Inc., was held at a press conference Wednesday, May 1, 2024 in Los Angeles, California, USA.
Eric Thayer | Bloomberg | Getty Images
Airbnb Stocks soared 14% after the company reported and on its best day ever Exceeded fourth-quarter revenue.
stock First debut on Nasdaq Island In December 2020, its largest gathering so far was in February 2023. Stocks grew 22% this year.
The online rental platform revenue was $2.48 billion and revenue was 73 cents per share. That exceeded analysts’ estimated earnings of 58 cents per share and $2.42 billion in revenue, according to LSEG. Revenue increased by 12% over the same period last year.
“Airbnb is stronger than the ones a few years ago,” the company said in a letter to shareholders. “We will continue to implement a multi-year strategy to refine core services and accelerate global markets on this momentum in 2025. growth and launch and expand new products.”
The company also made a profit, reporting net income of $461 million, at 73 cents per share. In the same period last year, Airbnb reported a loss of $349 million, or 55 cents per share. Adjusted profit totaled $765 million, reflecting a 4% increase of 4%.
Total booking value measures custody revenue, taxes, services and cleaning fees, rising to $17.6 billion and rising with a street forecast of $17.2 billion. Airbnb also reported 111 million nights and booked experiences during this period, accounting for 12% year-on-year growth. This exceeds the estimates of 108.7 million street estimates.
Finance chief Ellie Mertz said on a earnings call with investors that Airbnb will invest $200 million to $250 million to expand new business opportunities planned for the announcement in May.
“We want the Airbnb app to be similar to Amazon – a place for all your travel and life needs,” CEO Brian Chesky said on the phone. He also said that the company plans to launch every Both businesses may take three to five years to expand, but their core businesses should be strengthened.
“A great business could be a billion dollars in revenue,” he said. “And you should be able to expect to launch one or several businesses each year over the next five years.”
Despite its huge fourth-quarter results, Airbnb provides lighting guidance for a quarter of $2.23 billion to $2.27 billion in revenue. The estimated $2.3 billion is estimated from LSEG. The company said it benefited from Easter in the first quarter of 2024 and an additional day in February.
Airbnb also commented on the recent wildfires that ravaged the Los Angeles area last month, saying its nonprofit Airbnb.org has more than 19,000 people and 2,300 pets and has received $27 million in donations. This includes $18 million from its founder.
– Ashley Capoot contributes the report
