Airbnb on Tuesday reported increases in profit and revenue as the short-term-rental giant continued to benefit from the rebound in travel.

The San Francisco-based company said it continues to see strong demand so far this year, “indicating that consumer confidence to travel remains high.”

Airbnb said Tuesday that it earned $319 million, or 48 cents per share, in the fourth quarter. That was up from $55 million a year earlier.

Spurred by an increase in nights booked and higher average rental rates excluding currency-rate effects, Airbnb revenue climbed 24% from a year earlier, to $1.9 billion, according to AP.

The results beat Wall Street expectations. Analysts expected the company to earn 26 cents per share on revenue of $1.86 billion, according to a FactSet survey.

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