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Airbnb Posts 1st Profitable Year As Travel Rebounds, Share Price Jumps 9%
Airbnb finished 2022 with a net income of $1.9 billion. Airbnb finished 2022 with a net income of $1.9 billion compared with a loss of $352 million the prior year, the San Francisco-based company reported. People are getting back to crossing international borders and visiting cities in forms of travel that were "Airbnb's bread and butter before the pandemic," company chief executive Brian Chesky said on an earnings call. Airbnb in mid-2020 slashed one-fourth of its workforce -- some 1,900 people -- as the coronavirus pandemic crushed the travel industry. Airbnb ended last year with 6.6 million active listings of lodgings for rent, an all-time high, as homeowners seek to make extra money in tough economic conditions, according to the letter to shareholders. Source: NDTV
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