AIRBNB POSTS A $349 MILLION FOURTH-QUARTER LOSS AFTER SETTLING TAX DISPUTE WITH ITALY
AppleMagazine|February 16, 2024
Airbnb said this week that it lost $349 million in the fourth quarter due to an income tax settlement with Italy, but bookings and revenue rose, and the short-term rental giant said demand remains strong.
AIRBNB POSTS A $349 MILLION FOURTH-QUARTER LOSS AFTER SETTLING TAX DISPUTE WITH ITALY

The company forecast first-quarter revenue that would meet or beat Wall Street expectations.

However, the pace of bookings growth is likely to “moderate” from the fourth quarter into the first, and the early timing of Easter could hurt growth in the second quarter, Airbnb said.

The fourth quarter was marred by $1 billion in one-time tax withholding expenses and lodging tax reserves.

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