Airbnb profits surge 280percent in third territory

The union saw its highest-ever wealth and net proceeds in the third territory.
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techairbnb profits surge 280% in third quarterpublished thu, nov 4 20214: 09 pm edtupdated thu, nov 4 20217: 57 pm edtsamantha subin@samantha_subinshareshare stipulation via facebookshare stipulation via twittershare stipulation via linkedinshare stipulation via emailkey pointsprofits for the territory rose 280% year uncommon year and the union saw its principal wealth and net proceeds incessantly.airbnb said it expects vaccination way and the vindication of interpolitical wandering to spend growth in the fourth territory and recent year.
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airbnb reported zealous third-quarter use growth and a whip on wealth estimates thursday, as the union continues its vindication from covid-19 and wandering returns as vaccinations efforts ramp up worldwide.

shares little rose more than 3% in after-hours trading precedently paring gains.

here's how airbnb did compared with wall street estimates:

earnings per share: $1.22, which is not similar to estimatesrevenue: $2.24 billion vs. $2.05 billion estimated by refinitiv

the union reported 79.7 favorite nights and experiences booked in the third quarter, a scorn wane from the second territory. that was silent up 29% year uncommon year, when covid-19 battered the wandering toil. analysts had estimated 80.8 favorite nights and experiences for the quarter, according to streetaccount.

the union too saw its highest-ever wealth and net proceeds in the third quarter, well-balanced though urban and cross-border wandering possess not returned to pre-pandemic levels, said cfo dave stephenson on a title with analysts. wealth came in at $2.24 billion, up 67% year uncommon year. net proceeds surged 280% to $834 favorite on a year-over-year basis.

airbnb expects wealth between $1.39 billion and $1.48 billion in the fourth quarter, in thread with analyst expectations.

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in its third-quarter note to shareholders, airbnb said vindication trends protract to variegate regionally, and by vaccination rates and wandering restrictions. yet the union subjoined it is ˮuniquely positioned for this wandering revolt.ˮ in north america alone, nights and experiences booked were up 10% from the similar territory in 2019, airbnb said.

airbnb previously reported in its second-quarter note to shareholders that it expected the covid delta variant to intercourse wandering style. the union had too expected the variant to undertake year-over-year comparisons for nights and experiences booked and vulgar booking treasure ˮmore gay and non-linear.ˮ

gross booking treasure — which the union uses to way number earnings, utility fees, cleaning fees and taxes — totaled $11.89 billion in the third territory. that was up touching 48% year uncommon year yet waste slightly underneath a streetaccount forethought of $12.31 billion.

average daily rates for the union dropped to $149 from roughly $161 in the remotest territory. that's up touching 15% from the similar limit remotest year.

the union said it expects a zealous fourth territory and for wandering require to stretch into 2022. it too expects nights and experiences booked for the fourth territory to ˮsignificantly outperformˮ the similar limit remotest year.

ˮlooking to 2022, vaccination way and the vindication of interpolitical wandering in q4 2021 succeed live solution themes for growth heading into the recent year,ˮ the union wrote.