Airbnb Swings to Bigger-Than-Expected Profit, Sending Stock Soaring | Global News Avenue

Airbnb(Abnb) moved to more than expected profits in the fourth quarter, soaring in extended trading Thursday.

The company’s revenue rose 12% year-on-year to $2.5 billion, more than the analyst consensus visible by Alpha. Its net income was $461 million, or 73 cents per share, while a year ago loss of $349 million, or 55 cents per share, surpassing expectations.

As bookings grew 12% to $111 million, the region’s growth trend was trending, and region’s growth was growing. Airbnb’s total booking value increased by 13% to $17.6 billion. Both figures are analysts’ predictions.

Looking ahead, Airbnb said it expects revenues of $2.23 billion to $2.27 billion in the first quarter, just below what analysts looked for, warning that forex headwinds could have a negative impact on revenue growth.

Airbnb’s stock surged 14% in expansion trading after the launch. The stock has lost about 10% in the past 12 months.