Airbnb Beats the Pandemic With ‘Best Year’ Yet; Shares Rise
- Profit was a record for the fourth quarter; revenue grew 78%
- Travelers are returning to cities after rural preference
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Airbnb Inc. beat revenue and profit estimates in the fourth quarter, bucking a resurgent wave of Covid-19 infections and heading into this year even stronger than before the pandemic. The shares rose.
Revenue grew 78% to $1.53 billion, Airbnb said Tuesday in a statement. That beat analysts’ projections for $1.46 billion. The San Francisco-based company reported net income of $55 million compared with a loss of $3.9 billion a year earlier, marking a record for the period. Earnings per share were 8 cents, compared with estimates for 3 cents.