The housing-sharing giant’s predictions have been very impressive. Airbnb relative to current first quarter earnings, which beat analysts’ estimates, signaling that travel demand remains strong even after 2022, a record year for the industry. Its share price jumped 12% after hours, according to Bloomberg news agency. The San Francisco-based company expects sales in the first quarter of 2023 ended March 31 to be between $1.75 billion and $1.82 billion, while analysts had expected $1.69 billion on average. Airbnb estimates overnight bookings and experiences will grow by about 20% in the fourth quarter. The company said on Tuesday that it is easier to compare the current quarter to the same period in 2022 due to the impact of the Omicron coronavirus mutation, as well as the war in Ukraine that affected the business at this time last year.

Demand remains robust this year as tourists book trips well in advance, chief financial officer Dave Stephenson said in talks with analysts. “I just think it shows a good, optimistic trend of people who are confident they can book for the summer tourist season.” The bullish outlook comes after an already strong performance in 2022. Airbnb’s fourth-quarter revenue rose 24% to $1.9 billion in the fourth quarter, beating the average analyst estimate of $1.86 billion. Earnings per share were 48 cents on the dollar, according to data compiled by Bloomberg. . It is worth noting that the group has greatly benefited from the changes in work and lifestyle caused by the pandemic. The company posted its highest earnings and highest-grossing quarter for the July-September period, helped by pent-up demand after two years of suffocating lockdowns due to the pandemic.

In the fourth quarter of 2022, sales increased by 24% to $1.9 billion.

Now she is starting to notice some trends that have favored her reversal due to changing circumstances. Due to the pandemic, people rented large houses in rural areas for weeks or months, where they often worked remotely. This is now changing and travelers are opting for shorter stays in major cities and more international destinations. Consumers factor high airfare prices and a possible looming economic slowdown into travel planning. However, these factors do not prevent them from traveling, with Airbnb highlighting that “consumer confidence in travel remains high.”

Airbnb’s results follow last week’s results from another online giant, Expedia Group, which was also bullish on the current quarter and reported that accommodation bookings in January were up 20% from pre-pandemic 2019. However, Expedia reported disappointing fourth-quarter earnings and profits due to severe cold and a hurricane in January.