Airbnb's Optimistic Revenue Outlook Despite $349 Million Italian Tax Dispute
Airbnb reported a $349 million loss in the fourth quarter due to an income tax settlement with Italy, but saw a rise in bookings and revenue, with strong demand expected ahead. The company plans to expand its rental platform in countries where it is not as strong as the United States, and its board approved a share-repurchase program of up to $6 billion. CEO Brian Chesky mentioned plans to go beyond its core business, but gave no details about the "multiyear journey," promising news later this year.
