Airbnb released its finances for the first time in its stock market filing, saying the value of its home-sharing model has been proven by the global virus pandemic.
SAN FRANCISCO: Airbnb said in its stock market filing Monday that its home-sharing model proved resilient during the global pandemic, as it posted a profit for the just-ended quarter.
The San Francisco-based startup delivered a $219 million profit in the three months ending in September, but nonetheless lost $697 million in the first nine months of the year amid a 32% revenue drop as the Covid-19 outbreak crushed the travel sector.
In its first public release of its financial data, Airbnb said its home-sharing model has been “resilient” compared with others in the sector during the crisis.
“People wanted to get out of their homes and yearned…
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