The Limited Times

Now you can see non-English news...

DoorDash and Airbnb lost billions of dollars together in 2020

2021-02-26T06:37:18.221Z

Airbnb lost $ 4.6 billion over the year, including $ 3.9 billion in the fourth quarter, and expects tourism to rebound in 2021.



DoorDash and Airbnb published their first financial results on Thursday after their IPO in December, which show net losses for both, with mixed results, however, reflecting the consequences of Covid-19 on different economic sectors.

Neither has managed to strike a balance in 2020.

Read also: How Airbnb Timeshare Owners Adapted to Covid-19

Airbnb lost $ 4.6 billion in total - including $ 3.9 billion in the fourth quarter - compared to $ 674 million last year.

DoorDash limited its annual losses to 461 million, up from 667 million in 2019. But in the last quarter of 2020, its losses more than doubled to 312 million.

On the other hand, their turnover has evolved in opposite directions.

Indeed, one, delivery of meals and home shopping, is among the winners of the pandemic, the other, a tourist accommodation reservation platform, among the losers.

Resumption of tourism

DoorDash, whose activity jumped with containment measures and restaurant closures, saw its turnover multiplied by more than 3, both over the year (2.9 billion dollars, +227, 7%) than in the fourth quarter ($ 970 million, + 225.5%), even affording the luxury of slightly exceeding market expectations.

The San Francisco-based company has however drunk the cup on the New York Stock Exchange.

Its title lost about 12% in electronic trading after the close of Wall Street.

Airbnb, which has suffered from the sharp slowdown in tourism and business travel, saw revenues plunge 30% in 2020 to $ 3.4 billion, and 22% in the fourth quarter to $ 859 million.

But its Airbnb share was in the green Thursday night, driven by a brighter future: it gleaned 0.24%.

Because the gradual resumption of tourism that is looming, as the population is vaccinated, offers Airbnb positive prospects, while the reopening of restaurants is not good news for DoorDash.

In 2021, we are preparing for the resumption of travel.

As the vaccine is rolled out and restrictions lifted, we expect there will be a significant rebound in travel.

Our only priority in 2021 is to prepare (for it)

, ”commented the accommodation reservation platform in a press release.

Read also: Airbnb agrees to monitor ads on its site

The two unicorns had made a smashing debut on Wall Street in the same week in December.

The costs associated with these IPOs have also weighed on their results.

Source: lefigaro

All business articles on 2021-02-26

You may like

Trends 24h

Business 2021-04-11T22:13:58.415Z

Latest

© Communities 2019 - Privacy