Airbnb’s losses balloon to $4.6B in 2020

Despite the luster of its eye-popping IPO, Airbnb reported a $4.6 billion net loss in 2020 in its first earnings report as a public company. The hospitality startup, which is banking on a travel rebound, generated $3.4 billion in revenue last year, a 30 percent year-over-year decline. Although the pandemic whalloped the travel industry, Airbnb’s net loss was also driven by $2.8 billion worth of stock compensation expenses it incurred in its IPO in December.