Airbnb's stock price rises along with revenue growth.

• Airbnb reported third-quarter earnings that just missed analysts' expectations.
• The company's revenue increased by 10% to $3.73 billion compared to the previous year.
• In a letter to shareholders, Airbnb announced its focus on expanding beyond its core markets.

Although the company's third-quarter earnings fell short of analyst predictions, it managed to achieve a slight revenue increase. As a result, the stock experienced an 8% increase in after-hours trading.

Here's how the company did:

• Earnings per share: $2.13 vs. $2.14 expected by LSEG
• Revenue: $3.73 billion vs. $3.72 billion expected by LSEG

Airbnb's net income decreased by 69% from $6.63 billion to $1.37 billion, resulting in a loss of $5.26 per share.

According to LSEG, analysts were anticipating $2.42 billion in revenue for the fourth quarter, while the company forecasts revenue between $2.39 billion and $2.44 billion for the same period.

Airbnb announced in a letter to shareholders that it is concentrating on expanding into new, untapped markets worldwide. The company's expansion markets experienced a growth rate of double that of its core markets during the third quarter, according to Airbnb.

"Airbnb stated that they will continue to prioritize growth acceleration while preparing for their next phase, which will go beyond accommodations. Further details will be shared in the upcoming year."

Airbnb reported a 7% year-over-year increase in adjusted EBITDA for the third quarter, with earnings of $2 billion, surpassing analysts' expectations of $1.86 billion.

Airbnb's gross booking value for the third quarter was $20.1 billion, exceeding analysts' expectations of $19.9 billion. The company also reported 123 million nights and experiences booked, up 8% from the previous year and higher than the 121.4 million expected by analysts.

During the third quarter, Airbnb reported hosting growth across all regions and market types. The company's shareholder letter stated that it has over 8 million active listings and has focused on improving listing quality. Airbnb has removed over 300,000 listings since the previous year.

The company announced that average daily rates rose by 1% from the previous year to $164 in the third quarter.

The investors' quarterly call with the company will take place at 4:30 p.m. ET.