google.com, pub-6349746446116456, DIRECT, f08c47fec0942fa0
Airbnb IPO Filing Shows Profitable Quarter After Deep Cuts – The Wall Street Journal

Airbnb IPO Filing Shows Profitable Quarter After Deep Cuts – The Wall Street Journal

Airbnb Inc. unveiled paperwork for its initial public offering on Monday, showing the home-sharing giant turned a profit in the third quarter after the coronavirus pandemic forced it to overhaul its business and shed costs.

The company’s revenue for the three months ended Sept. 30 fell 18% to $1.34 billion from the same period a year earlier, as the pandemic continued to hurt bookings. But deep cost cuts, combined with an uptick in revenue from previous quarters, still led it to post a profit of $219 million. The Wall Street…

Leave a Reply

Your email address will not be published. Required fields are marked *