Record Profit, 1 Million New Listings, Pet-Friendly Filter

Airbnb’s latest quarter was its most profitable ever and also its best in terms of revenue, according to a shareholder letter the company released Wednesday.

Airbnb reported net income of $1.6 billion, excluding a one-time income tax benefit, and revenue growth of 18%, to $3.4 billion. Airbnb expects to generate between $2.13 billion and $2.17 billion in revenue next quarter, which would be an increase of between 12% and 14%.

“We saw greater volatility earlier in Q4, and we are closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand,” the company said in its letter to shareholders.

Increased reserves

The record numbers were driven by 113 million bookings last quarter, an increase of 14% from the same period last year.

A significant area of ​​growth has been in the Asia-Pacific region compared, which Airbnb said has fully recovered to pre-pandemic levels, with gross bookings growing by 23% in the last quarter over the same period of time in 2019. In particular, outbound trips to China have increased. 100% last quarter compared to the year before.

The company also said more guests booked stays in high-density cities last quarter.

A million new listings

Airbnb said it added nearly 1 million active listings this year. The number of active listings grew by 19% last quarter, with the highest growth in Asia Pacific and Latin America.

“We are focused on making hosting as popular as traveling on Airbnb, and we believe our approach is working,” the company said in the letter.

The company last quarter said it had surpassed 7 million active listings. In the third quarter alone, Airbnb hosts made more than $19 billion, the letter said.

New features

Airbnb said it plans to release dozens of new features on November 8. The company previewed a couple in the shareholder letter.

One is a toggle that users can turn on to search for listings that are pet-friendly. Another is an amenity filter for king beds.

The update also includes listings available on dates slightly outside of the user’s search, recommended if there are not enough listings available during the preferred time.

Photo credit: “Get an Airbnb” 2023 ad campaign