Digital nomads boost Airbnb: its shares rise 10%

After the quarterly report, the company achieved a 10% rise in its shares

Airbnb anticipated that revenue in the first quarter will be between 1.750 million dollars and 1.820 million dollars. Part of this new revenue prediction was thanks to decisions the company made during the pandemic, where it had a 25% headcount cut in 2020.

The company said it expects to “continue hiring at a judicious pace in 2023” and that, compared to 2019, its number of employees is down 5% while revenue is up 75%.

Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, totaled $13.5 billion in the fourth quarter. Result of 88.2 million nights booked around the world.

The company said domestic and short-haul travel continued to be strong, but saw “even greater improvement” in long-haul and cross-border travel during the quarter.

Airbnb said it is “particularly encouraged” by market share gains in Latin America, the continued recovery in Asia Pacific and European travelers booking their summer vacations in advance.