Home-sharing company Airbnb reported $9.4 billion in gross bookings during Q1 2019, according to information obtained by the Wall Street Journal. This represents an impressive year-over-year revenue growth of 31 percent for the privately held company, which plans on going public next year. Airbnb also had about $3.5 billion in cash on its balance sheet as of March 31, a source told the WSJ.
The financial information also revealed that Airbnb booked 91 million room nights in Q1 2019, substantially more than the 80.8 million room nights booked by online travel giant Expedia, according to an analysis by Skift.
While Expedia’s overall Q1 2019 revenue of $29.4 billion is more than triple that of Airbnb, its figures include fees from airfares and cruise sales, services which Airbnb does not offer.