The online accommodation rental platform Airbnb reported record revenue and profits in the third quarter thanks to easing of pandemic restrictions at the peak of the travel season.
Revenue from July to September was 67 percent higher than in the same period last year and stood at $2.2 billion, reaching its highest level since Aibnb was founded in 2008, a business report released Thursday showed.
Compared to the third quarter of pre-pandemic 2019, it is 36 percent higher, according to Airbnb.
Net profits nearly quadrupled, to $834 million, and is also the highest since the company began operations.
Adjusted earnings before interest, taxes, depreciation and amortization are twice as high as in the same period last year, jumping to $1.1 billion.
The company recorded 79.7 million bookings in the third quarter, up 29 percent from the same period last year.
Airbnb traditionally does the most business between July and September when people travel the most, and the last three months of the year are usually weaker in both bookings and arrivals, meaning lower revenue.
The company estimates that their revenue in the last three months of this year will range from 1.39 to 1.48 billion dollars.