Airbnb Inc. unveiled paperwork for its initial public offering on Monday, showing the home-sharing giant turned a profit in the third quarter after the coronavirus pandemic forced it to overhaul its business and shed costs.

The company’s revenue for the three months ended Sept. 30 fell 18% to $1.34 billion from the same period a year earlier, as the pandemic continued to hurt bookings. But deep cost cuts, combined with an uptick in revenue from previous quarters, still led it to post a profit of $219 million. The Wall Street…

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here