AirBnB at a loss of $ 3.9 billion

AirBnB at a loss of $ 3.9 billion

AirBnB released its first financial report after its December debut on the stock exchange, in which it announced USD 3.9 billion loss and a decline in revenues in the last quarter of last year by 22 percent. annually to the level of USD 859 million.

The New York Times, commenting on the company's financial results on Friday, assessed that AirBnB before its debut raised very high expectations from both analysts and investors.

The newspaper notes that the company's loss is slowly approaching PLN 5.2 billion, which was reported by Uber after the first quarter since its debut on the stock exchange. The "NYT" also reminds us that at that time there was a discussion among stock market observers about whether unprofitable start-ups could bring profits on the trading floor.

AirBnB supplemented the information about the drop in revenues by saying that it should be interpreted as an expression of the company's resistance to the stagnation in the tourism industry caused by the coronavirus pandemic. Last spring, the company lost $ 1 billion worth of bookings, laid off many of its employees, and launched emergency financing in response to movement restrictions and economic blockages around the world. During the summer, while the number of bookings made on the platform returned to normal, the company's revenues were insufficient to cover the gap.

After going public in December last year, AirBnB has accumulated $ 3.5 billion and obtained a valuation of over $ 100 billion. with the prospect of growth and a periodic result of up to $ 120 billion. due to investor confidence that the emergence of the coronavirus vaccine will quickly restore the tourism sector to pre-pandemic normal conditions.

Airbnb offers apartments and houses for rent in thousands of cities and almost all countries of the world through its website.

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