The company reported $3.73 billion in revenue, up 10% year over year.Brian Chesky, co-founder and chief executive officer of Airbnb Inc., during a news conference in Los Angeles, California, US, on Wednesday, May 1, 2024.on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. The stock was flat in after-hours trading.Revenue increased 10% from $3.4 billion a year earlier. Airbnb reported a net income of $1.37 billion, or $2.13 per share, compared with $4.
In a letter to shareholders, Airbnb said it is focused on expanding beyond its core markets and into under-penetrated markets around the globe. The average growth rate of nights booked in Airbnb's expansion markets was double that of its core markets on an origin basis during the third quarter, the company said.
Airbnb said adjusted EBITDA for the third quarter was $2 billion, up 7% year over year. Analysts polled by StreetAccount were expecting $1.86 billion.