AirbnbCompany reported strong revenue growth for the third quarter, and an increase in profit estimates Thursday. The company is continuing its recovery from Covid-19 as well as travel returns. As vaccinations programs expand worldwide, this will result in a stronger global income.

After hours, shares rose by more than 3 percent.

This is how Airbnb compared to Wall Street estimates.

• Earnings per share: It isn’t comparable with estimates at $1.22
• Revenue 2.24 billion to $2.05 billion, according to Refinitiv

According to the company, the number of nights and experiences booked by the company in its third quarter was just 79.7M. This is a small decrease over the second quarter. This was 29% more than the previous quarter, when Covid-19 had ravaged the travel industry. StreetAccount reports that analysts estimated that 80.8 millions nights and experiences were needed for this quarter.

In the third quarter, it also recorded its highest ever revenue and net profit. 2.24 Billion was the revenue, which is 67% more than last year. Year-over-year, net income jumped 280% to $834million

Airbnb anticipates that revenue will drop between $1.39 and $1.48 Billion in the fourth quarter, which is in line with analysts’ estimates of $1.44 Billion.

The following is a description of the product: third-quarter letter to shareholdersAirbnb stated that recovery trends vary by region and are affected by travel restrictions and vaccination rates. However, the company has a unique position to facilitate this “travel revolution”. Airbnb reported that bookings for North America have increased 10% compared to the previous quarter of 2019.

Airbnb previously reported in its second-quarter letter to shareholders that it expected the delta variantInfluence travel behaviour. Company had expected that variants would allow for year-over-year comparisons in nights booked, experiences booked, as well as gross booking values.

The company’s third-quarter gross booking value was $11.89Billion. This is how it tracks host earnings, service fee and tax payments. This was an increase of 48% over the previous year, but it fell just below analysts’ estimates at $12.31 billion.

From $161 last quarter, the average daily rates of the company declined to $149. It’s about 15% higher than the last quarter.

It said that it expected a strong fourth-quarter and increased travel demand into 2022. According to the company, the quarter’s fourth-quarter nights and experiences are expected to be “significantly better than” last year.

According to the company, “Looking ahead to 2022 and vaccination progress as well as the recovery of travel internationally in Q4 2021 are key themes for growth heading into 2019,” they wrote.

At 5:30 pm, company executives will talk about the results in a conference phone call. ET.