Airbnb said Thursday that it earned $834 million on record revenue in the third quarter as more people got vaccinated and went back to traveling.
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When companies closed offices in response to the COVID-19 pandemic, that freed some employees to work remotely using video technology, and Airbnb said the result was a huge jump in rentals.
Airbnb said its net income was nearly four times the $219 million that it earned a year earlier and nearly triple the $267 million it reported in the third quarter of 2019.
Revenue rose 67% from a year ago and 36% from the same quarter in 2019, to $2.24 billion. Analysts expected $2.06 billion, according to FactSet.
However, cancellations remained higher than they were before the pandemic.
The third quarter is usually Airbnb's best. It often loses money in the other quarters – the company lost $407 million in the first nine months of this year.
