Airbnb Profitable On Adjusted Basis For Second Consecutive Year
Airbnb Inc has revealed it was profitable on an adjusted basis for the second year in a row, ahead of a widely anticipated initial public offering this year.
Airbnb's expected listing in 2019 would be among a string of public debuts by highly valued Silicon Valley companies, including ride-hailing company Uber Technologies Inc, rival Lyft Inc and workplace messaging firm Slack.
Uber and Lyft remain unprofitable.
San Francisco, California-based Airbnb, valued by private investors at $31 billion, has in recent months turned to new services and offerings to fuel growth by adding luxury vacation homes and hotels to its platform.
Without revealing other numbers such as revenue and profit, the company said it was profitable before accounting for interest, taxes, depreciation and amortization (EBITDA).
Airbnb also said that it expects over 500 million guest arrivals at its listings since its founding in 2008 by the end of the first quarter of 2019.