Business / Companies
Airbnb reports 19% revenue growth, authorizes $12 billion buyback
The travel platform reported $4.9 billion in quarterly revenue and raised its annual growth outlook.
Status: source-checked.
Airbnb reported a 19% increase in third-quarter revenue to $4.9 billion on Thursday and announced authorization to repurchase up to an additional $12 billion of its Class A shares.
The company said gross booking value rose 21% from a year earlier to $27.7 billion, while nights and seats booked increased 16%. It attributed booking-value growth to strong demand and moderately higher average daily rates.
Net income was $1.9 billion. Adjusted earnings before interest, taxes, depreciation and amortization, a nonstandard accounting measure, rose 22% to $2.5 billion, the company said.
Airbnb forecast fourth-quarter revenue of $3.22 billion to $3.28 billion, representing growth of 16% to 18% from a year earlier. It said foreign exchange would contribute about 2 percentage points to that growth after hedging.
For the full year, the company said it now expects revenue growth in the high teens. The outlook is a company forecast, and the repurchase authorization does not establish how much stock will actually be bought.
What we know / what we don't
What we know
- Airbnb reported a 19% increase in third-quarter revenue to $4.9 billion on Thursday and announced authorization to repurchase up to an additional $12 billion of its Class A shares.
What we don't know
- Forecasts are uncertain; future policy or company outcomes are not established by this release.
The source record