Turns out 2022 was a very good year for Airbnb. The home rental company has posted both its Q4 and full year earnings, noting that last year was its first full year in the black.
According to a shareholders statement, Airbnb generated $8.4 billion in revenue last year—a 40 percent increase over 2021. In the fourth quarter alone, Airbnb brought in $1.9 billion in revenue.
Net income for the quarter stood at $319 million and $1.9. billion for the year.
The company noted strong demand through end of the year, as nights and experiences booked increased 20 percent in Q4 2022 compared to a year ago.
“In Q4 2022, we had our highest number of active bookers yet, demonstrating guests’ excitement to travel on Airbnb despite evolving macroeconomic uncertainties,” a company release said. “Globally, we’ve now had 1.4 billion cumulative guest arrivals. And heading into 2023, we see a strong backlog for Q1 with longer lead times for bookings in Q4 2022 compared to a year ago.”
Supply on Airbnb also grew by more than 900,000 active listings. Airbnb ended 2022 with 6.6 million active listings—their highest yet.
“Two factors drove this increase in supply. First, demand drives supply. Hosts are attracted to the supplemental income they can earn on Airbnb, which is often critical during times of inflation and recessionary concerns,” the statement continued. “Second, our product innovation is having an impact. Over the past two years, we’ve made it more attractive and easier to Host—including our most recent introduction of Airbnb Setup. And we’re not stopping there. We will continuously invest in growing our Host community and helping them succeed.”