Airbnb Posts Best Quarter Ever, Shattering Records for Profits and Revenue
Photo Credit: Airbnb CEO Brian Chesky spoke at Skift Global Forum at JFK Airport in September 2021. The company shattered records on profit and revenue. Skift
Skift Take
The travel recovery is on in many parts of the world, and Airbnb got a nice chunk of it. Its strategy is to capitalize on the long-term stays' trend, and to increase awareness about hosting opportunities.
Driven by Covid vaccinations and the easing of travel restrictions in parts of the world, Airbnb notched its best quarter ever, shattering records for both profits and revenue.
The company's net income rose 280 percent year over year to $834 million, its highest-ever, on revenue of $2.2 billion, which was likewise a company record. The revenue mark shattered its level in the third quarter of pre-pandemic 2019 by 36 percent, which Airbnb said reflected the travel recovery on its platform.
"This summer, we reached a major milestone of 1 billion cumulative guest arrivals as more people got vaccinated and travel restrictions were relaxed," the company said in a shareholder letter on Thursday.
