The Airbnb tunnel is shining again. Last quarter, sales increased by 5% to $886 million. In the fourth quarter, sales still fell by 22% year-on-year.
The coronavirus outbreak has caused serious consequences for the company, which went public in December. Last quarter, lockdowns and continued travel restrictions in many countries, including the United Kingdom, Italy and Germany, also plagued Airbnb. Airbnb hosts in more than 220 countries and approximately 100,000 cities.
Nevertheless, the number of overnight stays booked through Airbnb was 64.4 million, an increase of 13% from a year ago. Total booking revenue is approximately 10.3 billion U.S. dollars, an increase of 52% over the same period last year (pdf format).
Investors are still punishing the stock because its net loss has tripled ($1.2 billion). The company had to repay the loans it took at the beginning of the pandemic, and the restructuring costs were high.
Airbnb expects this quarter’s turnover will greatly increase.