(San Francisco) Airbnb posted the best quarterly profits in its history this summer, confirming that the travel craze has not waned since the COVID-19 pandemic has reduced travel restrictions, despite inflation.
Posted yesterday at 9:07 p.m.
In the third quarter, the housing reservation platform saw its net profit climb 46% year on year to $1.2 billion. The increase would have been 61% without the negative impact of exchange rates.
“Demand remains strong,” said the Californian group in its earnings release released on Tuesday.
The service finds that city tourism and overseas travel, which made up the majority of its business before the pandemic, have resumed.
Additionally, “we believe new use cases, including long-term stays and out-of-town travel, will continue as millions of people have embraced flexible living and working patterns,” he added. ‘company.
The number of hosts is also increasing: “like during the recession of 2008, when Airbnb started, people want to earn additional income”, assures the company.
In the third quarter of 2022, it recorded “nearly 100 million reservations for overnight stays and experiences”, or 25% more than last year at the same period.
Its revenue climbed 29% to $2.9 billion, above market expectations.
For the current quarter, Airbnb expects revenue to continue growing.
The platform expects revenue of between $1.80 billion and $1.88 billion during the holiday season, a range a bit below what analysts had hoped for.
The title of the San Francisco-based company lost more than 5% in electronic trading after the closing of the New York Stock Exchange.