Airbnb

Airbnb’s first report as a public company reveals annual loss of $4.6BILLION amid pandemic

PHOTO: For all of 2020, Airbnb lost nearly $4.6 billion 

  • For all of 2020, Airbnb lost nearly $4.6 billion, the company reported Thursday
  • Includes one-time charge of $2.8 billion for stock compensation related to IPO
  • Travel industry struggled in 2020 as coronavirus pandemic limited movement
  • But Airbnb saw bookings rebound in the holiday quarter as more took short trips 
  • Vacation rental firm outperformed hotels who rely more on business travel 
  • Airbnb stock rose more than 9% on Friday morning following the report 

Home-sharing site Airbnb posted a $4.6 billion loss for 2020 as it suffered from the pandemic downturn in travel and recorded one-time costs for becoming a public company.

In results released Thursday – Airbnb’s first as a publicly traded entity – the company took a charge of $2.8 billion for stock compensation related to the IPO. A year earlier, the company lost $674 million.

However, gross bookings for the fourth quarter ending December 31 were better than expected, indicating a strong rebound in demand for vacation rentals in North America as restrictions ease. Airbnb stock rose as much as 9 percent in early trading Friday.

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