Airbnb to double revenue

Airbnb Inc. doubled net revenue in the third quarter and remains on a profitability streak, as the business builds toward an initial public offering expected next year, according to people familiar with its financial results.

The home-rental company has maintained a steady profit before interest, taxes and amortization for at least 17 months, said the people, who asked not to be identified. In the quarter that ended in September, Airbnb pulled in about $1 billion, up from $500 million in the same period last year, one of the people said. — Bloomberg