From CNBC: 2025-02-13 17:03:42

Airbnb shares surged by 15% in after-hours trading following the release of their fourth-quarter earnings report, beating analysts’ expectations. The company reported earnings per share of 73 cents, higher than the 58 cents expected, with revenue reaching $2.48 billion, exceeding the $2.42 billion forecasted.

Airbnb’s revenue increased by 12% from the previous year, reaching $2.22 billion. The company reported a net income of $461 million, or 73 cents per share, compared to a loss of $349 million a year ago.

For the first quarter of 2024, Airbnb expects revenue between $2.23 billion and $2.27 billion. Adjusted profit for the fourth quarter was $765 million, up 4% from the previous year.

The company highlighted technological improvements and new product updates driving higher conversion rates in recent years. Airbnb plans to launch new offerings in May while focusing on global market growth and perfecting core services in 2025.

Airbnb reported 111 million nights and experiences booked, surpassing analysts’ expectations. Gross booking value was $17.6 billion in the fourth quarter, higher than the anticipated $17.2 billion.

Airbnb.org, a nonprofit founded by the company, provided shelter to over 19,000 people and 2,300 pets affected by recent wildfires in Los Angeles. The nonprofit aims to offer 100,000 free nights and has received $27 million in donations.

With over five million hosts and eight million active listings worldwide, Airbnb’s average daily rates reached $158 in the fourth quarter. The company’s stock was up 7% for the year before the earnings report.

Airbnb’s quarterly call with investors is scheduled for 4:30 p.m. ET.



Read more at CNBC:: Airbnb (ABNB) Q4 earnings 2024