shares of airbnb Shares rose as much as 5% in after-hours trading Thursday after the company reported third-quarter results that beat analysts’ revenue expectations and offered a rosy outlook.
Here’s how the company performed based on average analyst forecasts compiled by LSEG:
Earnings per share: $2.21 vs. 2.34 cents expected Earnings: $4.1 billion vs. $4.08 billion expected
Revenue increased 10% from $3.73 billion in the same period last year. The company reported net income of $1.374 billion, or $2.21 per share, up slightly from $1.368 billion, or $2.13 per share, in the year-ago period.
For the fourth quarter, Airbnb said it expects revenue to be between $2.66 billion and $2.72 billion. Analysts had expected sales of $2.67 billion for the current fiscal year, according to LSEG.
In a letter to shareholders, the company said it was another “strong quarter” for Airbnb. The company introduced new features during the quarter, including improved maps, updated cancellation policies, and book now, pay later.
“We are driving continued growth by focusing on four key areas: improving our service, bringing Airbnb to every corner of the world, expanding our offerings, and integrating AI into our apps,” the company said.
Airbnb reported 133.6 million nights and seat reservations. This was up 9% year-over-year and beat StreetAccount’s estimate of 131.75 million seats.
Gross booking value, which Airbnb uses to report host revenue, service fees, cleaning fees, and taxes, totaled $22.9 billion in the third quarter, an increase of 14% from the same period last year. The figure is higher than the $21.9 billion expected by analysts compiled by Street Account.
Airbnb reported adjusted EBITDA of $2.1 billion, the highest in any quarter, the company said.
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