Airbnb reportedly doubles Q3 revenue to USD1 billion
Home sharing platform Airbnb has reportedly doubled net revenue in the third quarter to about $1 billion.
That is up from US$500 million in the same period last year, Bloomberg reports, citing people familiar with its financial results.
As a private business it doesn’t post financials publically but is working towards an initial public offering expected for next year.
It has reported a profit before interest, taxes and amortization for the past 17 months.
It is probably no surprise the news comes on the back of a recent critical Morgan Stanley report which said bookings were slowing based on a survey of 4,000 travelers from the US, UK, France and Germany.
Airbnb has seen its biggest recent growth in markets not included in the survey.
Asia was up 80% since last year and Latin American growth was nearly double that, according to one of the people.
In some countries the upward curve is even sharper.
Airbnb reported a 238% rise in revenues in India, which co-founder Brian Chesky says could become its largest market within 10 years.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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