Airbnb 4Q profit and revenue rise on bookings, higher rates

DALLAS (AP) — Airbnb said Tuesday it enjoyed a record 2022, including its first annual profit, and it continues to see strong demand for travel carry over into the new year despite economic uncertainty and high inflation.

The San Francisco-based company said it earned $319 million in the fourth quarter, up from $55 million a year earlier, and $1.89 billion for the full year.

Spurred by an increase in bookings, fourth-quarter revenue rose 24% from a year earlier.

The company predicted that first-quarter revenue will be between $1.75 billion and $1.82 billion, which would beat Wall Street expectations. It said more people are considering international trips and going back to cities, which many travelers avoided at the peak of the pandemic.