From CNBC: 2025-02-14 12:18:26

Airbnb shares surged 14% after reporting stronger-than-expected fourth-quarter earnings. The online rental platform posted earnings of 73 cents per share on $2.48 billion in revenue, beating analyst estimates. The company swung to a profit, reporting net income of $461 million. Gross booking value rose to $17.6 billion, with 111 million nights booked.

CEO Brian Chesky plans to invest $200-$250 million in new business opportunities. The company aims to be a one-stop travel app like Amazon and launch new offerings to strengthen its core business. Despite strong results, Airbnb offered light guidance for Q1 2024 revenue. The company also aided in housing wildfire victims.

Airbnb’s stock, which debuted on the Nasdaq in December 2020, has rallied 22% this year. The company’s multi-year strategy includes perfecting core services, expanding globally, and launching new offerings. Revenue increased 12% year over year, with adjusted profit totaling $765 million. The company aims to launch new businesses annually for the next five years.



Read more at CNBC:: Airbnb shares pop most on record after Q4 earnings beat