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Home News Work-life

Remote Workers Are Helping Drive Airbnb’s Revenue

As people transition to flexible working arrangements, their ability to travel more has helped drive Airbnb shares and revenue during the third quarter of 2021.

Aayat AlibyAayat Ali
November 5, 2021
in Work-life
Reading Time: 1 min read
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Remote Workers Are Helping Drive Airbnb Revenue

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Airbnb shares jumped 12% to $200.52 after the company experienced record sales as demand for travel and the remote working population continues to grow. 

According to the company, their revenue grew 67% to $2.2 billion during the third quarter, and its net income of $834 million surpassed Wall Street’s expectation of $456.2 million. 

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In August, Airbnb warned that its booking rates would likely drop during the third quarter compared to its total during the same time in 2019. However, the company continues to outperform its competitors, especially as people transition to more flexible remote working policies. 

“But something bigger than a travel rebound is happening,” said Brian Chesky, CEO of Airbnb in a letter to shareholders. People “can now work from anywhere, travel any time, and stay longer. For those who can work remotely, we believe that flexibility will be the most important benefit after compensation.”

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Yardi Kube automates flex and coworking operations

The company expects to see its revenue grow between $1.39 billion and $1.48 during the fourth quarter, especially as demand continues to grow following travel restrictions being lifted in the U.S. on November 8. 

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Source: Bloomberg
Tags: Remote Work
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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