SAN FRANCISCO – Airbnb posted a profit of US$219 million (RM901.73 million) in the just-ended quarter as its home-sharing model proved resilient during the Covid-19 pandemic, said the platform yesterday as it released its finances for its upcoming share offering.
The start-up nonetheless lost US$697 million in the first nine months of the year amid a 32% revenue drop as the coronavirus outbreak crushed the travel sector.
But, Airbnb said its home-sharing model has been “resilient” compared with others in the sector during the crisis.
“People wanted to get out of their homes and yearned to travel, but they did not want to go far or to be in crowded hotel lobbies.
“Our platform has proven adaptable to serve these new ways of travelling.” – AFP, November 17, 2020
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