Airbnb reports sunny summer as travel rebound persists

Earnings growth: Airbnb’s website is displayed on a web browser in Washington. The company reported a record US$1.2bil (RM5.7bil) profit for the third quarter. — AP

SAN FRANCISCO: Airbnb is reporting its highest quarterly profits ever, confirming that the travel industry continues its pandemic recovery in the face of historic inflation.

In the third quarter, the home rental platform saw its net profit climb 46% year-over-year to US$1.2bil (RM5.7bil) – a result that would have been even higher without the negative impact of foreign exchange rates, the California-based company said.