SAN FRANCISCO — Airbnb stated Wednesday it made $4.37 billion in the 3rd quarter as it scheduled a big tax advantage and published higher-than-expected income throughout the summertime travel season.
However, the rental huge’s projection of fourth-quarter profits fell brief of Wall Street expectations.
Its shares fell more than 2% in after-hours trading.
Airbnb stated that leavingout the tax advantage, internet earnings would haveactually been $1.6 billion, up from $1.2 billion a year earlier.
Revenue increased 18% to $3.4 billion as the business saw a 14% boost in reservations and alittle greater average rates for short-term leasings. Analysts anticipated the San Francisco business to post profits of $3.37 billion, according to a FactSet study.
Airbnb forecasted fourth-quarter profits inbetween $2.13 billion and $2.17 billion, listedbelow Wall Street’s projection of $2.18 billion.
“We are seeing higher volatility early in (