Airbnb Inc. (ABNB) delivered a classic mixed earnings report Thursday, beating revenue expectations while falling short on the bottom line. Interestingly, investors seemed more focused on the positives, sending shares higher after hours.

The Numbers: The vacation rental platform reported quarterly earnings of 56 cents per share, missing the analyst consensus of 65 cents. But revenue told a different story, coming in at $2.78 billion and topping the Street estimate of $2.72 billion.

The underlying business metrics looked solid. Gross bookings value hit $20.4 billion in the fourth quarter, up 13% from the same period last year. Meanwhile, nights and seats booked reached 121.9 million, representing 10% year-over-year growth.

Looking Ahead: Airbnb guided first-quarter revenue between $2.59 billion and $2.63 billion, comfortably above the $2.53 billion analyst estimate.

Airbnb stock gained 5% to $121.76 in Thursday's extended trading session.