The US-headquartered home-sharing marketplace Airbnb loss a $3.9 billion during the December quarter against a loss of $351 million in the same period a year earlier.
The quarterly result declared by the company was its first after it went public in December last year. The company, however, said it expects a rebound in travel with the vaccine roll-out.
Airbnb has faced sky-high expectations since its blockbuster initial public offering in December. The company brought in $859 million in revenue in the last three months of the year, down 22% from a year earlier.
Its loss was driven by $2.8 billion in costs associated with stock-based compensation related to its IPO, as well as an $827 million accounting adjustment for an emergency loan it took out last year to weather the pandemic.
Airbnb presented its declining revenue as a show of resilience in a year when travel came to a standstill because of the pandemic.
