Airbnb topped Wall Street estimates on earnings in its Q4 results as the travel company continued to recover from the pandemic, according to a press release by Airbnb on Tuesday.
- The lodging-booking company posted a net income of $55 million or 8 cents per share in the quarter, driven by growth in revenues and continued cost discipline. Revenue jumped to $1.5 billion from $859.3 million in Q4 last year.
- Airbnb booked $73.4 million in sales from night and experiences in Q4, increasing 59% YoY and 3% lower than the same period in 2019. Gross bookings for Q4 were $11.3B, a 91% surge YoY and 32% higher over the 2019 period.
- For the full year, the company reported a net loss of $352 million or 57 cents per share compared with a loss of $4.6 billion or $16.12 per share, the prior year and a loss of $674 million in 2017.
- Revenue for 2021 jumped 77% YoY and 25% from 2019 to $6 billion.
Airbnb projects first-quarter revenue of between $1.41 billion and $1.48 billion, surpassing analysts’ estimate of $1.23 billion. ABNB up +3.15%, Pre-market trading