Airbnb reported third-quarter earnings on Thursday that showed revenue up 10% year-over-year.
The company reported $3.73 billion in revenue, up 10% year over year.on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. The stock jumped about 8% in after-hours trading.Revenue increased 10% from $3.4 billion a year earlier. Airbnb reported a net income of $1.37 billion, or $2.13 per share, compared to $4.37 billion, or $6.63 per share, in the same period last year.
In its letter to shareholders, Airbnb said it is focused on expanding beyond its core markets and into under-penetrated markets around the globe. The average growth rate of nights booked in Airbnb's expansion markets was double that of its core markets on an origin basis during the third quarter, the company said."We'll remain focused on accelerating growth while preparing for Airbnb's next chapter, which will take us beyond accommodations," Airbnb said.
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