The Airbnb technology platform closed its third quarter with a profit of 1.3 billion euros ($1.4 billion), 68.2% less over one yearfor the payment of deferred tax provisions in the United States for an amount of 2.8 billion dollars (2.6 billion euros) and the recognition of a non-monetary tax charge linked to the use of this capital This year.
Thus, Airbnb closes the first nine months of the year with a profit of 2,030.5 million euros ($2.187 million), 57.5% less than the same period last year, according to the accounts published by the company, as indicated Europe Press. The company earned €8,004.9 million ($8,622 million) over the period and recorded Ebitda was €3,041.5 million ($3,276 million), or 12.4 % more than a year ago.
The company explained in a press release this Friday that increased its profit over the period by 10%, to 3,435.2 million euros ($3.7 billion); while adjusted Ebitda was 1,958 million dollars (1,817.9 million euros), or 7% more year-on-year.
Free cash flow in the third quarter was €1,021.3 million ($1.1 billion), representing a free cash flow margin of 29%, while net profit margin was 37%. On the other hand, the company achieved Third quarter share repurchases of $1.1 billion (1,021.3 million euros).
The CEO of Airbnb, Brian Cheskyexplained that the quarter was “strong” and that reserve growth accelerated during the period. “I am particularly proud of the growth in our expansion markets, in-app bookings and Traveler Recommendation ads and look forward to another strong holiday travel season,” he said. added.
The platform explained that Guest demand accelerated in the third quarter, with 8% more bookings for nights and experiences year-over-year.. Concretely, reservations via the application have increased by 18%, now representing 58% of the total, compared to 53% last year, and the number of users has also increased. He stressed that its strategy in global markets is “working”, with a double-digit increase in the rate of gross room nights booked in growth markets.
Airbnb pointed out that The quality of accommodation offers is “improving” and detailed that it eliminated more than 300,000 low-quality ads and that host cancellations fell nearly 30% in the third quarter. He recalled the introduction of tools such as traveler recommendations and accommodations offered, and explained that to date, more than 200 million nights have been booked in these accommodations and that reservations with Super Hosts have increased by 21%.
