Airbnb shares jumped more than 11% in extended trading on Tuesday after the company reported its Q4 and full-year 2022 earnings, beating analysts’ expectations.
The company generated $1.9B in revenue in Q4, up 24% YoY. Net income came in at $319M, or 48 cents a share, up from $55M reported in Q4 2021.
- Full-year revenue was $8.4B, up 40% YoY, and $1.9B in net income, up from a net loss of $352M reported in 2021.
- This was Airbnb’s first full GAAP profitable year.
- Airbnb posted $13.5B in Gross Booking Value for Q4, up 20% YoY, and $63.2B for the year, up 35% YoY.
- The company had 88.2 million Nights and Experiences Booked in Q4 and 393.7 million booed for the year, up 31% YoY.
- During Airbnb’s earnings call, CEO Brian Chesky said the company has repurchased $1.5B worth of its shares in the past five months.
- Airbnb said it has continued to see strong demand in 2023 and expects Q1 FY2023 revenue between $1.75B and $1.82B.
