Airbnb (NASDAQ:ABNB) shares surged more than 13% today after the company reported its Q4 results, with EPS coming in at $0.48, better than the Street estimate of $0.25. Revenue was $1.9 billion, beating the Street estimate of $1.86 billion. The beat was driven by strength in the company’s nights and experiences bookings (up 20% year-over-year), supporting a 20% increase in gross booking value to $13.5 billion.

The company expressed its excitement at the robust demand they have been experiencing in Q1/23. They were especially pleased to note that European guests are making earlier bookings for summer travel this year, and the company is gaining market share in Latin America. Additionally, they are continuing to witness a recovery within the Asia Pacific region.

For Q1/23, the company expects revenue to be in the range of $1.75-1.82 billion, better than the Street estimate of $1.68 billion.