Airbnb reported better-than-expected sales in the fourth quarter, despite previously warning of potential difficulties. However, the company’s Airbnb stock was trading lower after the report. In the three months ending in December, Airbnb reported an adjusted loss of 55 cents per share on $2.22 billion in sales. Analysts had anticipated the company to earn 66 cents a share on $2.17 billion in sales, according to FactSet.

The net loss, totaling $349 million, included “non-recurring tax withholding expenses and lodging tax reserves of approximately $1 billion,” Airbnb said in a letter to shareholders. The company’s adjusted net income was $489 million outside of those charges.

In the same period last year, Airbnb reported earnings of 48 cents per share and generated $1.9 billion in sales. Airbnb anticipates sales to be in the range of $2.03 billion to $2.07 billion for the upcoming quarter. According to FactSet, analysts had projected sales of $2.02 billion. After the market closed, Airbnb stock dropped over 4% to 144.12 in recent trading.

Airbnb Tops Forecast

Total listings on Airbnb grew 18% to 7.7 million. The company said it sees “double-digit supply growth across all regions, with the highest growth in Asia Pacific and Latin America”. Airbnb’s overall revenue growth was 17% for the quarter. That topped its previous guidance in its third-quarter earnings report in November.

Airbnb Stock: Technical Ratings

According to IBD Stock Checkup, Airbnb stock has an outstanding IBD Composite Rating of 99, which is a combined score of five proprietary ratings. Additionally, Airbnb’s IBD Relative Strength Rating is 88 out of 99, comparing its price movement over the last 52 weeks with other stocks in IBD’s database. Moreover, the stock has an Accumulation/Distribution Rating of B+, suggesting institutional buying of shares.