(Airbnb) Bookings on Airbnb rose by 48.8% to $11.9 billion to help the company post a revenue of $2.24 billion in the third quarter, a 66.7% jump from prior year. The revenue was above projected $2.05 billion although the bookings missed expected $12.23 billion.
The bookings company reported an almost four times surge in net income which reached $833.9 million in the third quarter from the prior year.
The company reported stronger recoveries in North America and Europe, with average daily rates rising about 15% to $149 in the third quarter from 2020 levels.
Airbnb now forecasts a lower revenue of between $1.39 billion and $1.48 billion in the fourth quarter, below projected $1.44 billion.
ABNB: NASDAQ is up +0.19% on premarket.
