Brian Chesky, co-founder and chief govt officer of Airbnb Inc., on the Hope World Boards annual assembly in Atlanta, Georgia, US, on Tuesday, Dec. 12, 2023.
Dustin Chambers | Bloomberg | Getty Pictures
Airbnb reported better-than-expected income for the fourth quarter on Tuesday and issued an optimistic forecast for the present interval. The inventory jumped greater than 8% in prolonged buying and selling.
Here is how the corporate did:
- EPS: 55-cent loss. It isn’t instantly clear if that is akin to the 62-cent revenue estimate, in line with LSEG, previously often called Refinitiv
- Income: $2.22 billion vs. $2.17 billion anticipated by analysts, in line with LSEG
Income climbed 17% from $1.9 billion in the identical quarter a yr earlier. Airbnb posted adjusted earnings of $738 million within the fourth quarter. Analysts had been anticipating $645 million, in line with StreetAccount.
Airbnb reported a internet lack of $349 million, or 55 cents a share, in comparison with internet earnings of $319 million, or 48 cents per share, a yr earlier. The corporate mentioned its loss included lodging tax reserves and non-recurring tax withholding bills of round $1 billion.
In its shareholder letter, Airbnb mentioned the corporate is at an “inflection level” after spending the final three years upgrading and including options to its primary room-sharing service. Airbnb mentioned it is investing in additional under-penetrated markets overseas in 2024, and that it’s going to share plans to broaden past its core enterprise later this yr.
Airbnb mentioned income within the first quarter will likely be between $2.03 billion and $2.07 billion, whereas Wall Avenue was anticipating $2.03 billion, in line with LSEG. The corporate mentioned the quarter began out sturdy, with greater than 6 million friends celebrating the brand new yr in an Airbnb.
Gross reserving worth, which Airbnb makes use of to trace host earnings, service charges, cleansing charges and taxes, got here in at $15.5 billion within the fourth quarter. The corporate reported 98.8 million nights and experiences booked, up 12% from a yr in the past, and above the 98 million anticipated by analysts, in line with StreetAccount.
Airbnb mentioned visitor demand “stays sturdy,” notably for first-time customers. The corporate mentioned that after the “volatility” impacted the enterprise in October, when the Israel-Hamas conflict broke out, its nights booked progress accelerated by the remainder of the interval.
Common day by day charges elevated by 3% from a yr in the past to $157 within the fourth quarter, and the corporate ended 2023 with 7.7 million lively listings, up 18% from a yr earlier.
Airbnb mentioned within the investor letter that it has seen “double-digit provide progress” in lively listings throughout each area, whereas the Asia Pacific and Latin America areas grew probably the most.
Airbnb will maintain its quarterly name with traders at 4:30 p.m. ET.
