Airbnb exceeded expectations with its fourth-quarter revenue report and provided a positive outlook for the current period. Despite this, the company’s stock dropped over 4% in after-hours trading.
Key highlights from the report include:
– Earnings per share (EPS): Reported a loss of 55 cents, with uncertainty on how this compares to the previously estimated 62-cent profit.
– Revenue: Airbnb recorded $2.22 billion in revenue, surpassing analysts’ expectations of $2.17 billion.
– Revenue for the quarter increased by 17% compared to the same period last year, reaching $1.9 billion.
– The company posted adjusted earnings of $738 million, higher than the $645 million predicted by analysts.
Despite these positive figures, Airbnb reported a net loss of $349 million, or 55 cents per share, in contrast to a net income of $319 million, or 48 cents per share, in the previous year. This loss included reserved lodging taxes and one-time tax withholding expenses totaling approximately $1 billion.
Additionally, Airbnb announced its authorization to repurchase up to $6 billion of its Class A common stock in a press release.
Source (CNBC)
