Financial Data and Key Metrics - Revenue increased 11% YoY to $2.75 billion in Q2 2024 [8] - Net income was $555 million, representing a net income margin of 20% [8] - Free cash flow reached $1 billion in Q2, with trailing 12-month free cash flow at $4.3 billion, the highest ever [8] - The company repurchased $749 million of shares in Q2, with $5.25 billion remaining in the share repurchase authorization program [8] Business Line Data and Key Metrics - Nights and experiences booked totaled 125 million in Q2 [8] - Active listings surpassed 8 million, driven by growth across all regions and market types [9] - Guest favorites listings saw over 150 million nights booked since their launch in November 2023 [10] - Nights booked in the app increased 19% YoY, now comprising 55% of total nights booked [12] - Active listings managed by Superhosts increased 26% YoY [15] Market Data and Key Metrics - Growth in expansion markets (non-core markets) significantly outperformed core markets (US, UK, France, Australia, Canada) [11] - Nights booked in Paris more than doubled YoY ahead of the Olympics [13] - Cities hosting Euro Cup matches in Germany saw a 20% YoY increase in nights booked [14] - Active listings in Paris increased 37% YoY [14] - Latin America and Asia Pacific remain the fastest-growing regions [15] Company Strategy and Industry Competition - Strategic priorities include making hosting mainstream, perfecting core service, and expanding beyond the core [8] - The company is focusing on improving listing quality, with over 200,000 listings removed since April 2023 [9][14] - Airbnb is expanding its brand positioning beyond travel accommodations, launching Airbnb Icons for unique experiences [11] - The company is investing in underpenetrated markets, with localized product and marketing strategies [11][34] - Airbnb is preparing to launch new products and services, including a co-hosting marketplace in October 2024 [24][27] Management Commentary on Operating Environment and Future Outlook - Management noted shorter booking lead times globally, particularly in North America, with some signs of slowing demand [15] - The company is monitoring macroeconomic pressures and their potential impact on demand [15] - Airbnb is encouraged by the strength of Latin America and Asia Pacific, as well as the upcoming Olympics and Euro Cup [15] - The company expects to continue executing its growth strategy, focusing on service improvements, market expansion, and new offerings [16] Other Important Information - Airbnb's system of trust is a key factor in driving growth, particularly for Airbnb Rooms [95] - The company is exploring opportunities in generative AI to enhance its platform and create new travel concierge services [52][53] - Airbnb is working on improving the discoverability and affordability of experiences, with plans to relaunch the experiences business in 2025 [25][26] Q&A Session Summary Question: Slowing lead times in North America and impact on Olympics and Euro Cup [17] - Management noted that lead times in Q1 and Q2 were consistent with 2023, but recent trends show shorter lead times, particularly for same-day to next-week bookings [19][20] - Longer lead times for holidays like Thanksgiving and Christmas are showing softness, but this may be due to delayed bookings rather than cancellations [21] Question: Expansion beyond the core business and future product launches [17][23] - Airbnb plans to launch new products and services annually, starting with a co-hosting marketplace in October 2024 [24][27] - The company is relaunching experiences in 2025, focusing on affordability, uniqueness, and better merchandising [25][26] Question: Pricing trends and property class shifts [29] - ADR appreciation is driven by a shift towards larger, more expensive properties, which offer better value per guest compared to hotels [31][32] Question: Expansion markets with strong traction [29][33] - Key expansion markets include Germany, Brazil, Italy, Spain, and several Latin American and Asian countries [34][35] - The company is focusing on localizing products and marketing strategies to drive growth in these regions [35] Question: Q3 revenue guidance and booking trends [37] - Funds held on behalf of customers increased 13% YoY, but this does not directly translate to revenue due to timing differences in payments [38] Question: Booking window trends pre- and post-pandemic [40][41] - Lead times in Q2 2024 were similar to Q2 2019, indicating a return to pre-pandemic booking patterns [42] - Last-minute bookings are strong, but longer lead times are showing softness, potentially due to macroeconomic factors [43][44] Question: Marketing expenses and ROI [46][47] - Marketing expenses are expected to grow faster than revenue in Q3, with investments in international markets and performance marketing [48][49] - Payback periods vary by channel, with performance marketing offering shorter-term ROI and brand campaigns requiring longer-term investment [99] Question: Urban vs non-urban market trends [63] - Non-urban markets continue to grow slightly faster than urban markets, reflecting Airbnb's differentiated offering in areas with limited hotel supply [67] Question: Experiences business challenges [63][64] - Key challenges for experiences include affordability, uniqueness, discoverability, and awareness [64][65] - Airbnb plans to improve merchandising and cross-selling experiences alongside accommodations [66] Question: Investment cycle and returns [69] - The company is investing in growth initiatives, with a focus on international markets and new offerings, but expects to maintain strong profitability levels [70][71] Question: Revenue growth trends and Q4 outlook [73] - Management is monitoring lead time trends and expects some bookings to shift to later periods, similar to past patterns [74] Question: Urban opportunity and hotel integration [80][81] - Airbnb is open to adding hotels to its platform, particularly for filling network gaps during high-demand periods [82][83] - The company aims to maintain its unique brand positioning while expanding inventory options [84] Question: Learnings from Paris Olympics [86] - Airbnb successfully increased supply in Paris by 37% ahead of the Olympics, leveraging its ability to provide housing for large-scale events [88][89] - The company plans to apply this strategy to future events like the World Cup and Olympics [91] Question: Airbnb Rooms growth and challenges [93] - Airbnb Rooms remains a small portion of the business, with growth limited by its niche appeal and the need for further investment in trust systems [94][95] Question: Marketing payback and ADR sustainability [97] - Marketing payback periods vary by channel, with performance marketing offering quicker returns and brand campaigns requiring longer-term investment [99] - Global ADRs may decline as lower-ADR regions like Latin America and APAC grow, but the economics remain strong [101]

Airbnb expects a slowdown in growth next quarter and weakening US demand.Shorter booking lead times and regulations in California impacted bookings, Airbnb's CFO said.The news follows lower-than-expected earnings from tech giants and a disappointing job report. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personaliz ...

Airbnb forecast third-quarter revenue below estimates on Tuesday and warned of shorter booking windows, suggesting travelers were waiting until the last minute to book due to economic uncertainty, sending its shares down 15% after the bell.Domestic travel in the United States has been pressured since the start of the year as more Americans have grown cautious about travel spending on worries about the health of the US economy.San Francisco-based Airbnb reported quarterly profit of $555 million, or 86 cents ...

For the quarter ended June 2024, Airbnb, Inc. (ABNB) reported revenue of $2.75 billion, up 10.6% over the same period last year. EPS came in at $0.86, compared to $0.98 in the year-ago quarter.The reported revenue represents a surprise of -0.06% over the Zacks Consensus Estimate of $2.75 billion. With the consensus EPS estimate being $0.92, the EPS surprise was -6.52%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expec ...

Airbnb CEO Brian Chesky suggested on Tuesday’s Q2 earnings call with investors that the company will soon expand into new products and services, including co-hosting, a relaunch of Airbnb’s “experiences,” guest services, and more. The company positioned the upcoming offerings as a way for Airbnb to grow its revenue by becoming known for doing more than just one thing — short-term vacation rentals. “We’re going to have to do multiple new things,” Chesky told investors. With co-hosting, launching later this ...

Airbnb, Inc. (ABNB) came out with quarterly earnings of $0.86 per share, missing the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.52%. A quarter ago, it was expected that this company would post earnings of $0.23 per share when it actually produced earnings of $0.41, delivering a surprise of 78.26%.Over the last four quarters, the company has ...

The vacation rental company Airbnb forecast third-quarter revenue below Wall Street estimates on Tuesday and reported a lower second-quarter profit, as it flagged weakening demand from US customers.Shares of the company were down about 12% after the bell.Domestic travel in the United States has been pressured since the start of the year as more Americans grow cautious about travel spending amid growing economic uncertainty.The San Francisco-based company reported quarterly profit of $555m compared to $650m ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Airbnb CEO and co-founder Brian Chesky speaks at The Fast Company Innovation Festival on September 21, 2022, in New York.Airbnb shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it's seeing signs of slowing demand from U.S. customers.Here's how the company did compared to LSEG estimates for the quarter ended June 30:Earnings per share: $0.86 versus $0.92 expected.Revenue: $2.75 billion versus $2.74 billion expected.R ...

SAN FRANCISCO, Aug. 6, 2024 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) has posted a shareholder letter containing its second quarter 2024 financial results on its Investor Relations website at https://investors.airbnb.com.Airbnb will host an audio webcast to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET today. The link to the webcast will be made available on the Investor Relations website at https://investors.airbnb.com.Interested parties can register for the call in advance by visiting https://regis ...