AIRBNB REPORTEDLY HITS NET REVENUE OF US$1B IN QUARTER
Airbnb Inc. pulled in about US$1 billion in net revenue for the quarter ended in September, according to people familiar with its financial results. The nine-year-old travel upstart has maintained a steady profit before interest, taxes and amortization, for at least 17 months, said the people who asked not to be identified discussing the private company’s earnings. Last week, Morgan Stanley released a report that said Airbnb’s growth is slowing. The analysts based their view on an online survey of 4,000 consumers from the U. S., U.K., France and Germany. The survey did not include Latin America and Asia, which saw an 80-percent growth in bookings compared to the previous year, says one of the people. Latin America saw bookings increase by 150 per cent, said the person.