Airbnb's sales forecast tops estimates on strong travel demand - BNN Bloomberg

Airbnb Inc. gave an outlook for revenue in the first quarter that beat analysts’ estimates, signaling that travel demand remains robust even after a record year for growth in 2022. The shares jumped more than 8 per cent in extended trading.

The optimistic outlook followed what was already a robust performance in 2022. Airbnb said it had net income of US$1.9 billion, marking its first profitable full year according to generally accepted accounting principles. In the fourth quarter, Airbnb reported revenue increased 24 per cent to US$1.9 billion, beating the average analyst estimate of US$1.86 billion, according to data compiled by Bloomberg. Earnings per share were 48 cents.

Airbnb’s results follow those last week of fellow online travel giant Expedia Group Inc., which was also upbeat about the current quarter and said lodging bookings in January grew 20 per cent over pre-pandemic 2019. Expedia however, delivered disappointing revenue and profit in the fourth quarter as a result of Hurricane Ian and winter storms in December.

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