Airbnb (ABNB) Post Q3 Beat With Record Revenue and Net Income
Airbnb (NASDAQ: ABNB) reported strong Q3 results, with EPS coming in at $1.22, beating the consensus estimate of $0.75. Quarterly revenue grew 67% year-over-year to a record level of $2.2 billion, compared to the consensus estimate of $2.04 billion.
The company’s quarterly net income of $834 million (up 280% year-over-year) was also the highest ever. It was driven by the company’s significant top-line recovery, its continued expense discipline and travel seasonality.
According to the shareholder letter, the travel rebound that began earlier this year accelerated in Q3, resulting in the company’s strongest quarter ever. But something bigger than a travel rebound, which is the revolution in how we travel, is happening. “Millions of people can now take more frequent trips, take longer trips, travel to more locations, and even live anywhere on Airbnb,” was said in the letter.
The company provided its Q4 outlook, expecting revenue to range from $1.39 to 1.48 billion, compared to the consensus estimate of $1.44 billion.