Airbnb profit soars on pandemic-era lifestyles

Airbnb on Thursday reported record-high profit in the recently ended quarter as bookings surpassed pre-pandemic numbers, with remote work trends boosting the home-sharing platform.

Users spent nearly $12 billion on overnight stays and associated “experiences” through Airbnb, up significantly from the same period a year ago as well as from the same quarter in 2019 before the pandemic stalled the travel industry.

“Something bigger than a travel rebound is happening,” Airbnb said in a letter to shareholders.

“The world is undergoing a revolution in how we live and work.”

Remote work has freed people to work anywhere, including Airbnb lodgings at desirable destinations, according to the San Francisco-based company.