https://www.cnbc.com/2023/02/14/airbnb-abnb-earnings-q4-2022-.html
Shares of Airbnb rose about 11% in prolonged buying and selling Tuesday after the corporate launched fourth-quarter earnings that beat analysts’ estimates on high and backside traces.
Right here’s how the corporate did:
EPS: 48 cents vs. 25 cents anticipated by analysts, in response to Refinitiv.
Income: $1.90 billion vs. $1.86 billion anticipated by analysts, in response to Refinitiv.
Income for the fourth quarter was up 24% yr over yr. Airbnb reported $319 million in web earnings for the quarter, up from $55 million a yr earlier, and adjusted earnings earlier than curiosity, taxes, depreciation, and amortization of $506 million, surpassing the $432 million anticipated by analysts, in response to StreetAccount.
In its shareholder letter, Airbnb mentioned it’s seeing continued sturdy demand initially of 2023. The corporate mentioned income in first quarter can be between $1.75 billion and $1.82 billion, above the $1.69 billion anticipated by analysts polled by Refinitiv.
Airbnb mentioned it made troublesome decisions to chop spending throughout the pandemic however has modestly elevated its headcount over the previous two years. The corporate mentioned it expects to “proceed hiring at a even handed tempo in 2023,” and that, in comparison with 2019, its headcount is down 5% whereas income is up 75%.
Gross reserving worth, which Airbnb makes use of to trace host earnings, service charges, cleansing charges and taxes, totaled $13.5 billion within the fourth quarter. The corporate reported 88.2 million nights and experiences booked within the fourth quarter, up 20% yr over yr, however under the 89.7 million anticipated by analysts, in response to StreetAccount.
Airbnb mentioned within the investor letter that vacationers are returning to main cities, which has traditionally been one of many “strongest areas” of its enterprise. The corporate mentioned home and short-distance journey continued to be sturdy, nevertheless it noticed “even additional enchancment” in longer-distance and cross-border journey throughout the quarter.
Airbnb mentioned visitor demand and provide progress remained sturdy all through 2022.
Common every day charges decreased by 1% from a yr in the past to $153 within the fourth quarter. The corporate ended 2022 with 6.6 million energetic listings, which displays a rise of over 900,000, or 16%, in comparison with 2021.
Airbnb mentioned it’s “notably inspired” by market share positive aspects in Latin America, continued restoration inside Asia Pacific and European vacationers which might be reserving summer season holidays early.
The corporate will maintain its quarterly name with traders at 4:30 P.M. ET Tuesday.
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