Airbnb's fourth-quarter earnings exceeded expectations, driving the stock price up nearly 15% after hours.

Airbnb's fourth-quarter 2024 earnings surpassed expectations, with revenue and earnings per share exceeding Wall Street analysts' forecasts, resulting in a nearly 15% surge in the stock price after hours.

Adjusted EPS of 73 cents, compared to 58 cents expected; revenue of $2.48 billion, compared to $2.22 billion expected; expected first-quarter revenue of $2.23 billion to $2.27 billion, compared to $2.3 billion expected; average daily rate in the fourth quarter grew 1% year over year to $158.

The company's revenue grew 12% year over year to $4.61 billion, and it turned a profit of $461 million, reversing a year-ago loss. Adjusted profit grew 4% year over year to $765 million, topping expectations. The number of booked stays and experiences reached 111 million, up 12% year over year. Total booked value reached $17.6 billion, topping expectations.

Airbnb stated that the rebuilt technology infrastructure and new product updates in recent years are driving higher conversion rates. The company also previewed a new product launch in May, but did not provide more details. In a letter to shareholders, the company said that today's Airbnb is stronger than it was a few years ago and will continue to maintain that momentum in 2025.