Airbnb Inc. reported on Tuesday a 25% annual increase in nights and experiences that soared to nearly 100 million, with $15.6 billion in gross booking value - a 31% year-on-year expansion. The company's revenue rose 29% to $2.9 billion in the same period, marking the highest quarter in its history.
However, the third trimester of 2022 was Airbnb's best also when it comes to net income, which jumped 46% to $1.2 billion, while free cash flow skyrocketed over 80% to $960 million amid "strong guest demand." To welcome the rising number of hosts, Airbnb confirmed it would introduce new features on November 16.
The company's stock posted losses in the after-hours trade despite better-than-expected results.
