Shares of Airbnb (ABNB) rose hours after the peer-to-peer home rental company touted strong growth across its business and raised its full-year outlook amid healthy global travel demand. “Airbnb is back in growth mode,” CEO Brian Chesky said in a statement to investors. “It’s rare for a market our size to re-accelerate growth, but that’s exactly what we’re doing. In the third quarter, we achieved our fastest revenue growth in more than three years, with acceleration across our business, including our most established markets.” In the third quarter, Airbnb reported earnings per share of $3.16, beating Wall Street analysts’ estimates of $2.85 per share, according to data from S&P Global Market Intelligence. Revenue grew 19% to $4.87 billion, also beating estimates of $4.74 billion. “In North America, nights booked grew at their fastest pace in four years,” the company said. “We’re also seeing more guests returning to Airbnb and more people trying it for the first time.” The strength of the company’s quarter led it to raise its guidance for the rest of the year. In the fourth quarter, Airbnb expects revenue to grow 16% to 19% to a range of $3.22 billion to $3.28 billion, beating the Street median estimate of $3.16 billion. For the full year, Airbnb forecasts revenue growth of around 10% and adjusted EBITDA margins to increase to approximately 36%.
