By Dhirendra Tripathi

Investing.com – Airbnb stock (NASDAQ:) climbed 12% Friday as rising vaccinations and the reopening of economies helped the company blow past third-quarter estimates. It said that things would only improve.

Third quarter results showed that short-term rental companies were being cautious with their August warnings that bookings for July and September nights, experiences, or both could be cut short.

Airbnb announced that its gross bookings, which includes room nights booked as well as experiences, increased by 48% to $11.9billion last year. They also surpassed the pre-Covid period. The third quarter is typically the company’s biggest.

Airbnb said they are “encouraged to see these new travel trends extending beyond summer travel peak and are looking forward to a strong Q4.” As of the end of September, Airbnb’s backlog had more than 40% more nights booked for Thanksgiving week in the U.S. than in 2019 and “we are seeing the strong demand for travel extend well into 2022.”

It expects October and December to bring in $1.39 billion to $1.48 billion. This is higher than last year’s quarter. The company expects night and experience bookings to outperform both in these comparisons.

The third quarter revenue increased 67% to $2.2 million versus last year. Adjusted profit per shares was $1.22