New York, Nov. 2, (dpa/GNA) - Vacation rental company Airbnb reported its “biggest and most profitable quarter” on Tuesday, but warned demand for bookings is forecast to slow.
In the third quarter, the company saw nearly 100 million bookings, up 25% year-over-year, and $15.6 billion in gross booking value, up 31% year-over-year.
Revenue grew 29% year-over-year to $2.9 billion — Airbnb’s highest quarter ever.
Chief executive Brian Chesky said it was also the company’s most profitable quarter with net income of $1.2 billion, up 46% year-over-year.
“The third quarter of 2022 demonstrates we continue to drive growth and profitability at scale. Guest demand on Airbnb remains strong, our Host community continues to grow, and this was our most profitable quarter ever.”
Airbnb warned that demand for bookings is likely to slow from the previous quarter. That was not well received by investors, with shares falling by around 7% in after-hours trading.
GNA