Airbnb (ABNB) announced fourth-quarter results late Tuesday that beat out net profit and loss, as did its first-quarter forecast. Airbnb stock jumped.
The company reported adjusted earnings per share of 8 cents on revenue of $1.53 billion. Analysts expected Airbnb to report adjusted earnings of 4 cents on revenue of $1.45 billion, according to FactSet.
Airbnb stock jumped 4.3% to 187.97 during after-hours trading in stock market today.
Revenue was up 38% from the same period last year. Airbnb forecast first-quarter revenue in the range of $1.41 billion to $1.48 billion. Analysts expected $1.24 billion.
The company said in an announcement Message to shareholders. As a result of remote working, people are spread out in thousands of towns and cities, staying for weeks, months or even entire seasons at a time, the company said.
“Nearly half of our booked nights in the fourth quarter were for stays of a week or more. One out of every five nights booked was for stays of a month or more,” the company continued.
Airbnb stock: Strong pent-up demand
Travel was early and The sectors most affected in the coronavirus pandemic. Staff shortages in airlines and a very high incidence of omicron have discouraged some travel. However, quarantine requirements are generally declining in many countries.
“Despite the ongoing near-term uncertainty, we see evidence of pent-up demand: as of the end of January 2022, we had more than 25% more nights booked for the summer travel season compared to this time in 2019,” the company said.
Another online travel company, Reservation collectibles (BKNG), announces fourth-quarter results after the market closes on February 23.
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