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Airbnb posts a record Q4 as travel recovers post-pandemic

In Q4, Airbnb’s revenue grew 24% year-over-year to $1.9 billion, according to the company, driven by an uptick in stays and Experiences, Airbnb’s curated selection of tours and events. Nights and Experiences booked increased 20% in Q4 2022 compared to a year ago, the company said, while guests stayed at locations longer. Gross nights booked in Q4 2022 for more than a week — a profitable customer segment — were 40% higher than in Q4 2019. Another boost to Airbnb’s bottom line, no doubt, was the company’s decision to stop offering COVID-19-related refunds. Perks for hosts likely helped, too, plus growth-oriented features like a toggle that shows the price of stays inclusive of fees. On the net income side, Airbnb notched $319 million in Q4 2022 compared to $264 million in Q4 2021, which it attributes to revenue growth and “expense discipline.” Unclear is the extent to which Airbnb’s embrace of a fully remote workplace might’ve played a role; Airbnb’s headcount is down 5% from 2019. For the full year 2022, Airbnb generated $1.9 billion of net income — its first profitable full year. That’s quite a turnaround from 2021, when the company lost $352 million. In 2023, Airbnb says it’s seeing “strong demand” and plans to focus on raising awareness around hosting, improving community support and building new products and services. Telegraphing one area of focus, Airbnb recently launched a tool that helps find renters an apartment so they can Airbnb it. Airbnb stock is up around 5% as of publication time. Airbnb posts a record Q4 as travel recovers post-pandemic by Kyle Wiggers originally published on TechCrunch

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