Airbnb hits $1 billion in Q3 revenue

George Sell By George Sell
16 November 2017 | Updated 16 November 2017

US: Airbnb doubled its net revenue in Q3 to around $1 billion as it builds towards an expected IPO.

A report in Bloomberg says the company has maintained a steady profit before interest, taxes and amortisation for at least 17 months, according to unnamed sources close to Airbnb.

The report comes shortly after Morgan Stanley raised concerns about Airbnb's growth last week. A report from the firm said the frequency of bookings slowed, based on an online survey of 4,000 customers from the US, UK, France and Germany.

However, the survey didn't include Latin America and Asia, where growth is running at around 150 per cent and 80 per cent respectively.

Profitability and revenue growth are essential to Airbnb if it is to justify its private valuation of $31 billion ahead of a 2018 initial public offering.

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