Airbnb Inc. reported record fourth-quarter revenues and profits and its first profitable year on Tuesday, and its management provided a first-quarter outlook that beat Wall Street estimates despite plans to lower prices.

Shares of Airbnb ABNB, +3.82% rose more than 9% in over-the-counter trading after the results were released, rising 3.8% in the regular session to close at $120.87.

The alternative-housing booking company reported record fourth-quarter revenue and net income, even though analysts’ expectations were not met for gross bookings and the number of nights and impressions booked. Company executives cited strong demand throughout the year and high supply.

All regions saw significant growth in 2022 as guests increasingly crossed borders and returned to cities via Airbnb