Shares in Airbnb fell this week after the company reported its “biggest and most profitable quarter ever” Tuesday, but slightly lowered its estimates for the fourth quarter.
The lodging-booking company reported third-quarter revenue of $2.9 billion, up 29% year-over-year, with a net income of $1.2 billion, driven in part by Nights and Experiences bookings.
Active listings were also up about 15% compared to a year earlier, and Airbnb is introducing an easier way to become a host on Nov. 16, it said.
“Just like during the Great Recession in 2008 when Airbnb started, people are especially interested in earning extra income through hosting,” the company said.
The company softened its fourth quarter guidance due to seasonality, projecting revenue of between $1.80 billion and $1.88 billion, slightly below expectations.
“Guest demand on Airbnb remains strong, our Host community continues to grow, and this was our most profitable quarter ever,” co-founder and CEO Brian Chesky said.
