Airbnb Inc (NASDAQ:ABNB) stock rose 4.47% (As on Feb 16, 12:45:31 AM UTC-4, Source: Google Finance) after the company beat Wall Street estimates on earnings and revenue in its fourth quarter, as the travel company continued to rebound from the Covid-19 pandemic. The company reported 73.4 million nights and experiences booked in the fourth quarter, down nearly 8% from the prior quarter and missing estimates. Analysts were expecting 74.96 million nights and experiences for the quarter, according to StreetAccount. Still, the figure is up 59% year-over-year, when the Covid-19 pandemic weighed heavily on the travel industry. However, despite the continued near-term uncertainties, the company sees evidence of strong pent-up demand, as of the end of January 2022, the company had over 25% more nights booked for the summer travel season than at this time in 2019. Airbnb reported $55 million in net income, its first Q4 profit. It’s a decrease from the prior quarter but a huge improvement from the $3.89 billion net loss it posted in Q4 2020. The fourth quarter was helped by strong bookings in North and Latin America versus 2019, but Europe, the Middle East, Africa and the Asia Pacific regions were a drag.

ABNB in the fourth quarter of FY 21 has reported the adjusted earnings per share of 8 cents, beating the analysts’ estimates for the adjusted earnings per share of 3 cents, according to Refinitiv survey of analysts. The company had reported the adjusted revenue growth of 78 percent to $1.53 billion in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $1.46 billion. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, totaled $11.3 billion in the fourth quarter, slightly over Wall Street estimates of $11.08 billion, according to StreetAccount. Average daily rates rose 20% from a year ago to $154 in the fourth quarter. Adjusted EBITDA in Q4 2021 of $333 million was our highest Q4 ever, increasing significantly from losses in both Q4 2020 and Q4 2019. Adjusted EBITDA margin was 22% for Q4 2021. As of December 31, 2021, we had $8.3 billion of cash, cash equivalents, marketable securities, and restricted cash.

Airbnb expects first-quarter 2022 nights and experiences booked to significantly exceed Q1 2019 levels. It estimates revenue to fall between $1.41 billion and $1.48 billion in the first quarter of 2022, topping analyst estimates of $1.24 billion.