On Thursday, Airbnb Incorporated unveiled higher quarter-three financial results but missed expectations.
Its stock price advanced by 4.58% to $147.37 per share on November 07’s Asian afternoon session. However, it is anticipated to plummet by -4.56% to $140.65 in the after-hours trading.
The rental company’s earnings per share (EPS) rose to $2.13, falling short of analysts’ outlook of $2.14, while still surpassing the previous $0.86 data.
Simultaneously, its revenue extended to $3.70 billion, slightly lower than the forecasts of $3.72 but beating the $2.75 billion figure in the last quarter. Correspondingly, revenue climbed by 10.00% from last year’s $3.40 billion data.
More importantly, Airbnb recorded $1.37 billion or $2.13 per share in net income. It also reported that adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization were up by 7.00% to $2.00 billion year-over-year.
On top of that, the vacation rental corporation’s nights and experiences booked leaped by 8.00% to 122.80 million. The Asia-Pacific and Latin America prompted the growth with 19.00% and 15.00%, respectively.
As indicated by Airbnb, it is committed to expanding further than its core markets. The company also assured shareholders that it plans to go beyond rental accommodation.
Meanwhile, the average rate on a daily basis spiked by 1.00% to $164.00 from a year ago.
Greece Cracks Down Airbnb with New Policies
Based on reports, Greece announced fresh Airbnb regulations for 2025. The new policies are said to include stricter criteria for short-term rentals.
In line with this, the decision came as part of the country’s goal to reduce over-tourism and a housing crisis.
According to Minister of Tourism Olga Kefalogianni, penalties will be imposed if the new regulations are not followed.
Consequently, the standards are likely to make Airbnb owners have a hard time operating in Greece.
Furthermore, regulations will include minimum property size, liability insurance, and security systems. Also, the country expects the company to have fire safety measures and mandatory disinfection.
