Airbnb reported 19% revenue growth to $4.9 billion in the third quarter, its fastest pace in three years. The company outpaced Expedia Group, which grew revenue 12%, and Booking Holdings, whose revenue fell 1% due to a $1 billion accounting charge tied to a potential FTC settlement over allegedly deceptive practices.
Nights and seats booked across homes, hotels, experiences and services grew 16%. CEO Brian Chesky had expressed dissatisfaction with Airbnb's growth a year earlier, when the third quarter showed 9.7% revenue growth. Growth has accelerated in almost every quarter since then.
Airbnb attributed the expansion to strong demand across all regions and momentum from its product roadmap, which includes search and merchandising, pricing and tools, and flexible payments. The company did not identify a single driver of the acceleration.