TELETRADER News
2/25, 10:08 PM (Source: TeleTrader)
more TeleTrader news

Airbnb-1.58%

176.64
Chart for: Airbnb Inc

Airbnb's revenue drops 22%, lands at $859 million in Q4

Airbnb unveiled on Thursday that its revenue in the final quarter of 2020 landed at $859 million, 22% lower compared to the same period the year before.

The San Francisco-based vacation rental company's net loss amounted to $3.9 billion in the fourth quarter, compared to a loss of $351.5 million reported in the final trimester the year prior, with most of this year's loss attributed to charges related to the firm's Initial Public Offering (IPO). The company's net loss per share came in at $11.24 in the three months ended December 31, down from a net loss of $1.34 one year ago. For the entire year, Airbnb's revenue tumbled 29.2% to stand at $3.4 billion, while its net loss landed at $4.6 billion, or $16.12 per share.

Nights and experiences booked plunged 39% and 41% in regard to the final quarter and the entire year, to amount to 46.3 million and 193.2 million, respectively. Gross booking value also crashed both considering the trimester and the entire 2020, with figures down 31% and 37%, amounting to $5.9 billion and $23.9 billion, respectively.

Airbnb shares rose more than 4% in the after-hours trading, to sell for $189.3.

Breaking the News / BU