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Airbnb IPO Filing Shows Slowdown In Revenue Growth Due To COVID-19

Airbnb IPO Filing Shows Slowdown In Revenue Growth Due To COVID-19

Home rental startup Airbnb Inc disclosed paperwork for its initial public offering (IPO) on Monday that showed a slowdown in its core business due to the COVID19 pandemic, even as it prepares for one of the most anticipated stock market debuts in recent years.

Home rental startup Airbnb Inc disclosed paperwork for its initial public offering (IPO) on Monday that showed a slowdown in its core business due to the COVID-19 pandemic, even as it prepares for one of the most anticipated stock market debuts in recent years.

Airbnb reported revenue of $2.52 billion (£1.91 billion) for the nine months ended Sept. 30 compared with $3.7 billion a year earlier, according to its S-1 filing. Net losses widened to $697 million, from $323 million a year earlier.

The listing on the Nasdaq is expected in December and would cap a blockbuster year for IPOs as companies capitalize on a stock market rally in the second half of the year, fueled by monetary as well as fiscal stimulus in a bid to blunt the fallout of the pandemic.

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