Airbnb Inc. connected Thursday reported its highest quarterly gross and nett income ever, blowing past expectations connected the spot of summertime question and continued pandemic betterment successful North America, Europe and Latin America.
Airbnb shares were up astir 3% successful aft hours, contempt concisely turning antagonistic successful the extended session. Shares precocious 3.2% successful the regular league to adjacent astatine $178.45.
The travel-booking company, which dominates alternate accommodations, said successful a missive to shareholders that it continues to spot shifts successful travel. That includes much trips person to location and extracurricular of cities, positive much semipermanent stays — which Airbnb said remained its fastest-growing category.
The company’s missive included its oft-repeated mantra that a question “revolution” is underway: “Airbnb makes it imaginable to enactment from immoderate home.”
Airbnb’s third-quarter gross accrued astir 70% twelvemonth implicit twelvemonth to $2.2 cardinal and outdid pre-pandemic, 3rd 4th 2019 gross by 36%.
The company’s grounds precocious nett income of $834 million, oregon $1.22 a share, was 220% higher than its year-ago nett income of $219 cardinal and an summation of 213% from the aforesaid 4th successful 2019.
Adjusted Ebitda (earnings earlier interest, taxes, depreciation and amortization) was $1.1 billion, which was up 120% twelvemonth implicit twelvemonth and 251% from the aforesaid play 2 years ago.
Analysts surveyed by FactSet had forecast net of $478 million, oregon 72 cents a share, connected gross of $2.06 billion.
The institution saw 79.7 cardinal nights and experiences booked, a 29% summation twelvemonth implicit year, but inactive 7% little than the aforesaid play successful 2019. Gross booking value, boosted by higher mean regular rates, grew 48% twelvemonth implicit twelvemonth to $11.9 billion.
Airbnb said the 3rd 4th is usually its champion 4th due to the fact that of seasonal travel. But it besides issued an optimistic outlook astir the 4th quarter, which it says is already disconnected to a beardown start.
“As of the extremity of September, our backlog had implicit 40% much nights booked for Thanksgiving week successful the U.S. than astatine the aforesaid clip successful 2019,” the institution told shareholders. “And we are seeing the beardown request for question widen good into 2022.”
The institution expects fourth-quarter gross of betwixt $1.39 cardinal and $1.48 cardinal but did not springiness a nett income forecast. Analysts had forecast a nonaccomplishment of $40 million, oregon 3 cents a share, connected gross of $1.44 billion.
Airbnb banal is up 21.6% truthful acold this year, compared with the S&P 500 scale SPX, +0.42%, which is 24.6% higher twelvemonth to date.
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