Airbnb’s Airbnb business, which excludes the U.S. and China, posted a net profit of $46.47 million in 2018, compared with a loss of $97.22 million in the same period in 2017, Reuters reported.
Airbnb International Unlimited Company is incorporated in Ireland and is a wholly owned subsidiary of Airbnb Inc. The document was first made public with changes to the Irish Companies Act.
Airbnb’s international business excluding the U.S. and China grew by more than 35 percent in 2018, with revenue of nearly $2.42 billion (revenue is only airbnb charged, not the total revenue charged by the landlord). Reuters previously reported that Airbnb Inc’s revenue for the full year of 2017 was more than $2.5 billion, up more than 50 percent from 2016. The company did not disclose revenue for 2018.
Airbnb’s operating loss more than doubled to $306 million in the first quarter of this year as marketing investment surged, according to a report by The Information last month.
Airbnb said it would go public in 2020 and its profitability is being closely watched because of the success of many loss-making companies in their initial public offerings.
In an interview with The New York Times earlier this month, Airbnb’s chief executive, Brian Chesky, said Airbnb had raised $3.2 billion from investors and that the company had an adequate “money and ammunition bank” to run the business.