Shares of Airbnb rose as much as 5% in extended trading on Thursday after the company reported third-quarter results that beat analysts’ estimates for revenue and offered rosy guidance.
Here’s how the company did based on average analysts’ estimates compiled by LSEG:
Earnings per share: $2.21 vs. $2.34 cents expectedRevenue: $4.10 billion vs. $4.08 billion expected
Revenue increased 10% from $3.73 billion during the same period last year. The company reported net income of $1.374 billion, or $2.21 per share, up slightly from $1.368 billion, or $2.13 per share, a year earlier.
For the fourth quarter, Airbnb said it expects to report revenue of $2.66 billion to $2.72 billion. Analysts were expecting $2.67 billion for the period, according to LSEG.
In a letter to shareholders, the company said it was “another strong quarter” for Airbnb. The company introduced new features during the quarter including improved maps, updated cancellation policies and reserve now, pay later.
“We’re driving continued growth by focusing on four key areas: making our service better, bringing Airbnb to more parts of the world, expanding what we offer, and integrating AI into our app,” the company said.
Airbnb reported 133.6 million nights and seats booked, up 9% from a year ago and above the 131.75 million expected by StreetAccount.
Gross booking value, which Airbnb uses to report host earnings, service fees, cleaning fees and taxes, totaled $22.9 billion in the third quarter, up 14% year over year. That figure is above the $21.9 billion expected by analysts polled by StreetAccount.
Airbnb reported adjusted EBITDA of $2.1 billion, which is its highest in any quarter, the company said.
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