On February 26, Airbnb released the company's fiscal fourth-quarter and full-year financial report for 2020, which is also the company's first financial report since its IPO (initial public offering).
According to the report, Airbnb’s fourth-quarter revenue was US$859 million, a decrease of 22% from the US$1.107 billion in the same period last year. Excluding the impact of exchange rate changes, it was also a year-on-year decline of 22%; the net loss was US$3.888 billion. In comparison, the net loss for the same period last year was US$352 million, a significant increase year-on-year; the diluted loss per share attributable to shareholders of Class A and Class B common shares was US$11.24, compared with US$1.34 in the same period last year.
Airbnb's fourth-quarter and full-year revenue exceeded Wall Street analysts' expectations, but the fourth-quarter and full-year loss per share were worse than expected, causing its stock price to fall by more than 1% after the market. Airbnb's net loss in the fourth quarter was US$3.888 billion, compared with a net loss of US$352 million in the same period last year, which was a significant increase year-on-year; the diluted loss per share attributable to Class A and Class B common shareholders was US$11.24, compared to $1.34 in the same period last year, this performance was worse than analysts expected.
Airbnb's operating loss in the fourth quarter was US$ 3.1 billion, compared with an operating loss of US$328 million in the same period last year. Airbnb's total costs and expenditures in the fourth quarter were US$3.959 billion, compared with US$1.435 billion in the same period last year. Among them, Airbnb's fourth-quarter revenue cost was US$210 million, compared to US$294 million in the same period last year; operating and support expenses were US$330 million, compared to US$214 million in the same period last year.
Product development expenditures were US$2.062 billion, compared to US$283 million in the same period last year; sales and marketing expenditures were US$630 million, compared to US$437 million in the same period last year; general affairs and administrative expenditures were US$714 million. This compares to 207 million U.S. dollars in the same period last year; restructuring costs were 14.3 million U.S. dollars, and there was no such expense in the same period last year.