Airbnb posts $4.4 billion 3Q profit with help from a tax break and higher-than-expected revenue

SAN FRANCISCO – Airbnb stated Wednesday it earned $4.37 within the 1/3 quarter because it booked a massive tax get advantages and posted higher-than-expected revenue throughout the summer time shuttle season.

However, the condominium large’s forecast of fourth-quarter revenue fell wanting Wall Street expectancies.

Its stocks fell greater than 2% in after-hours buying and selling.

Airbnb stated that except for the tax get advantages, internet source of revenue would had been $1.6 billion, up from $1.2 billion a yr previous.

Revenue rose 18% to $3.4 billion as the corporate noticed a 14% build up in bookings and reasonably upper moderate costs for momentary leases. Analysts anticipated the San Francisco corporate to post revenue of $3.37 billion, consistent with a FactSet survey.

Airbnb predicted fourth-quarter revenue between $2.13 billion and $2.17 billion, beneath Wall Street’s forecast of $2.18 billion.

Airbnb stated it seeing extra volatility in its trade early within the fourth quarter, which started Oct. 1, and expects the expansion in nights booked to “moderate” in comparison with third-quarter expansion.