Shares in Airbnb (ABNB) traded up 4.9% at 10:20 a.m. ET after the company beat revenue expectations for the fourth quarter, reporting $859 million compared to $748 million expected. While revenue is down 22% year-over-year, investors are still optimistic about a rebound in travel as vaccination distribution accelerates.
However, it wasn't all good news for Airbnb. The company reported a net loss of $3.89 billion in its first quarter as a public company, down 1,005% from a loss of $352 million a year prior, and a loss of $11.24 loss per share. The company attributed the loss to costs associated with its initial public offering in December.