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Airbnb (ABNB) earnings This fall 2021

Brian Chesky, chief govt officer and co-founder of Airbnb Inc., speaks throughout an Financial Membership of New York luncheon on the New York Inventory Trade (NYSE) in New York, U.S., on Monday, March 13, 2017.

Michael Nagle | Bloomberg | Getty Photographs

Airbnb beat Wall Road estimates on earnings and income in its fourth quarter, because the journey firm continued to rebound from the Covid-19 pandemic.

The corporate’s inventory jumped greater than 4% in after hours buying and selling.

Listed below are the important thing numbers:

  • Earnings per share: 8 cents vs. 3 cents anticipated in a Refinitiv survey of analysts
  • Income: $1.53 billion vs. $1.46 billion anticipated by Refinitiv

Airbnb expects first-quarter 2022 nights and experiences booked to considerably exceed Q1 2019 ranges. It estimates income to fall between $1.41 billion and $1.48 billion within the first quarter of 2022, topping analyst estimates of $1.24 billion.

The corporate reported 73.4 million nights and experiences booked within the fourth quarter, down practically 8% from the prior quarter and lacking estimates. Analysts had been anticipating 74.96 million nights and experiences for the quarter, based on StreetAccount. Nonetheless, the determine is up 59% year-over-year, when the Covid-19 pandemic weighed closely on the journey business.

Airbnb stated in its fourth-quarter letter to shareholders that it has rebounded rapidly from the impacts of the pandemic. The corporate stated the destructive results of omicron on bookings and cancellations had been decrease than it skilled with the delta variant. Gross nights booked in December had been up greater than 40% in comparison with 2020, the corporate stated.

“Regardless of the continued near-term uncertainties, we see proof of robust pent-up demand: as of the tip of January 2022, we had over 25% extra nights booked for the summer season journey season than right now in 2019,” the corporate wrote.

Income for the fourth quarter got here in at $1.5 billion, up 78% yr over yr. Airbnb reported $55 million in internet earnings, its first This fall revenue. It is a lower from the prior quarter however an enormous enchancment from the $3.89 billion internet loss it posted in This fall 2020.

Gross reserving worth, which Airbnb makes use of to trace host earnings, service charges, cleansing charges and taxes, totaled $11.3 billion within the fourth quarter, barely over Wall Road estimates of $11.08 billion, based on StreetAccount.

Common day by day charges rose 20% from a yr in the past to $154 within the fourth quarter.

Airbnb has spent a lot of its time specializing in a type of “journey revolution,” as distant work turns into a extra everlasting choice for a lot of throughout the U.S.

Consequently, Airbnb stated common journey size in the course of the previous two years elevated by about 15%, with stays of greater than seven days now representing practically half of all gross nights booked. Meantime, long-term stays of 28 nights or extra continued to be its fastest-growing class by journey size. These prolonged stays accounted for 22% of gross nights booked within the fourth quarter, up 16% from This fall 2019.

The corporate stated it had its biggest variety of listings but, however didn’t present a determine.

Airbnb is ready to debate outcomes on a name with buyers at 5:30 p.m. ET.

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