Airbnb pulled in about $1 billion in revenue last quarter, up more than 50 percent from the same period last year, according to someone familiar with the company’s financials.

The company is on track to grow revenue nearly 60 percent in 2017 and notch another year of profitability, said the source.

Profit at the start-up accelerated over the last three months, according to the source, and is set to surpass the company’s own baseline forecast by $50 million. CNBC is told that excess profit will be reinvested in acquisitions and emerging markets.

Bloomberg earlier reported Airbnb’s third-quarter revenue.

According to CBInsights, Airbnb is the second-most-valuable start-up in the U.S., trailing only Uber. Earlier this year, it raised an additional $1 billion, bringing its valuation to $30 billion.

Source: Tech CNBC
Airbnb revenue jumps 50 percent to about billion in Q3