Brian Chesky, CEO and co-founder of Airbnb Inc. , during the New York Economic Club luncheon at the New York Stock Exchange (NYSE) in New York, US, on Monday, March 13, 2017.
Michael Nagel | Bloomberg | Getty Images
The company’s stock jumped more than 4% in the trading period after the close.
Here are the key numbers:
- Earnings per share: 8 cents vs. 3 cents predicted in Refinitiv analyst survey
- he won: $1.53 billion vs. $1.46 billion forecast by Refinitiv
Airbnb expects in the first quarter of 2022 that booked nights and experiences will significantly exceed Q1 2019 levels. He estimates revenue will fall between $1.41 billion and $1.48 billion in the first quarter of 2022, topping analysts’ estimates of $1.24 billion.
The company reported 73.4 million nights and experiences booked in the fourth quarter, down about 8% from the previous quarter and missing estimates. Analysts were expecting 74.96 million nights and experiences during the quarter, according to StreetAccount. However, the figure was up 59% year over year, when the Covid-19 pandemic hit the travel industry hard.
Airbnb said in its last quarter letter to shareholders that it has rapidly recovered from the effects of the pandemic. The company said the negative effects of Omicron on reservations and cancellations were lower than with the Delta variant. The company said the total number of nights booked in December increased by more than 40% compared to 2020.
“Despite the ongoing near-term uncertainty, we see evidence of pent-up demand: as of the end of January 2022, we had more than 25% more nights booked for the summer travel season compared to this time in 2019,” the company wrote.
Fourth-quarter revenue was $1.5 billion, up 78% year over year. Airbnb reported net income of $55 million, its first profit in the fourth quarter. It’s down from the previous quarter but a significant improvement from the $3.89 billion net loss it recorded in the fourth quarter of 2020.
Booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, totaled $11.3 billion in the fourth quarter, just above Wall Street estimates of $11.08 billion, according to StreetAccount.
Average daily prices increased 20% from a year ago to $154 in the fourth quarter.
Airbnb has spent most of its time focusing on a kind of “travel revolution,” as remote work has become a permanent option for many across the United States.
As a result, Airbnb said average trip length over the past two years has increased by about 15%, with stays of more than seven days now accounting for nearly half of the total number of nights booked. Meanwhile, long-term stays of 28 nights or more continued to be the fastest growing category in terms of trip length. These extended stays accounted for 22% of total nights booked in the fourth quarter, an increase of 16% over the fourth quarter of 2019.
The company said it had the largest number of companies listed so far, but did not provide a number.
Airbnb is set to discuss the results of a call with investors at 5:30 p.m. ET.
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