Airbnb’s first quarter results showed growth in listings and in nights booked.And per management commentary on the conference call, demand for international travel remains robust — enough so that the firm is looking ahead to a “record” summer season, tied to sporting events such as the Olympics.But stable growth, forecast by management for the current quarter, left investors unimpressed, at least after the bell Wednesday (May 8), and they sent the shares lower by 8% in after-market trading.CEO Brian Chesky ...

Wednesday, May 8th, 2024Markets were flat again this Hump Day. Over the past week or so of trading, the major indices have been treading water. For the past month, the Dow and the Nasdaq are marginally in the green, while the S&P 500 is marginally in the red and the small-cap Russell 2000 is -0.9%. For today’s session, the Dow scraped together +172 points, +0.44%, while the S&P was exactly 0.00%. The Nasdaq dipped a tad, -0.18%, while the Russell dropped -0.46%. For the Dow, it’s currently on the most tepid ...

Financial Data and Key Metrics - Revenue for Q1 2024 was $2.1 billion, up 18% year-over-year, driven by strong travel demand and the timing of Easter [8] - Net income was $264 million, with a net income margin of 12% [9] - Free cash flow for Q1 was $1.9 billion, the highest ever, and trailing 12-month free cash flow was $4.2 billion, representing a 41% free cash flow margin [9] - The company repurchased $750 million of shares in Q1, with $6 billion remaining on the repurchase authorization [9] Business Line Data and Key Metrics - Nights and experiences booked in Q1 reached 133 million, a 9.5% year-over-year increase, despite a tough comparison from the previous year [13] - Mobile app downloads in the U.S. increased by 60% year-over-year, and global nights booked via the app grew by 21%, now representing 54% of total bookings [13] - Active listings for accommodations grew by 17% year-over-year, excluding removals of low-quality listings [9][15] - Supply growth remained strong across all regions, with urban and non-urban supply increasing at similar rates [16] Market Data and Key Metrics - Nights booked in Paris for the summer Olympics are five times higher than a year ago, and Germany is seeing a similar trend for the Euro Cup, with nights booked nearly doubling [15] - The company saw over 500,000 guests stay during the North American solar eclipse, with nights booked along the eclipse path more than doubling compared to the previous year [14] - Supply in Paris increased by nearly 40% year-over-year to meet higher demand for the Olympics [15] Company Strategy and Industry Competition - The company is focused on three strategic initiatives: making hosting mainstream, perfecting the core service, and expanding beyond the core [9] - Airbnb removed thousands of low-quality listings in Q1 to improve guest experience, while active listings grew by 17% year-over-year [9][15] - The company launched "Icons," a new category of extraordinary experiences, which generated significant media coverage and social media impressions, helping to reposition the brand beyond just accommodations [11][12] - Airbnb is investing in less mature markets, where growth in nights booked is twice as fast as in core markets [10] Management Commentary on Operating Environment and Future Outlook - Management highlighted the stability and resilience of leisure travel demand, with lead times for bookings remaining stable compared to the previous year [25] - The company expects Q2 revenue growth to be flat due to the timing of Easter and one-time credits from the previous year, but remains optimistic about growth initiatives for the rest of the year [26][27] - Airbnb is focused on improving affordability and usability, with initiatives like total price display and monthly/weekly discounts driving value for consumers [30][31] Other Important Information - The company is leveraging AI to improve the hosting experience, including AI-powered quick replies for hosts and computer vision models to organize listing photos [50][51] - Airbnb is also experimenting with generative AI to enhance customer service, with plans to expand AI capabilities to search and the broader user experience [52] Q&A Session Summary Question: Expansion in Less Mature Markets - Airbnb is focusing on markets like Mexico, Brazil, Germany, Italy, Spain, Japan, Korea, and China, where penetration is lower but potential is high [19][20] - The company is also seeing traction in Switzerland and the Netherlands, with plans to expand further in Asia, including India [19] Question: U.S. App Download Growth - The 60% year-over-year increase in U.S. app downloads was driven by optimization efforts, including encouraging users to download the app at the right moment and improving the mobile website experience [21][22] Question: Q2 Growth and Margins - Q2 growth is expected to be flat due to the timing of Easter and one-time credits from the previous year, with marketing spend shifting slightly to Q2 [26][27] Question: ADRs and Supply Growth - Airbnb's ADRs are down 2% year-over-year, while hotel prices are up 3%, making Airbnb more affordable compared to hotels [32] - Supply growth is expected to continue outpacing demand, which will help maintain competitive pricing [34][35] Question: Search and Conversion Rates - Airbnb has made significant improvements to its search experience, including mobile app downloads, date flexibility, and filter enhancements, driving incremental growth [38][39] - The company is also focusing on improving listing quality, with initiatives like Guest Favorites and quality highlights [40][41] Question: Investment Priorities - Airbnb's investment priorities for 2024 include core business optimization, international expansion, and expanding beyond accommodations [45][46] - The company is also investing in AI to reduce friction in customer service and improve the overall user experience [50][51] Question: Icons and Experiences - Icons is seen as a strategic move to reposition Airbnb as more than just a travel accommodations platform, with plans to expand into everyday experiences [68][70] - The company is optimistic about the potential for Icons to drive traffic and increase brand awareness [71] Question: Olympics and Euro Cup Impact - Special events like the Olympics and Euro Cup are expected to drive significant supply growth and brand perception, with Paris seeing a 40% increase in active listings [72] Question: EBITDA Margin and Investment Levers - Airbnb is guiding for a 35%+ EBITDA margin for the full year, with flexibility to invest in marketing and product development to drive growth [75][76] Question: User Profiles and Community Features - The company is investing in enhancing user profiles and community features, with a focus on increasing trust and unlocking new opportunities for users [80][82] Question: Supply Quality and Host Behavior - Airbnb has removed low-quality listings and is using tools like the Compare Listing Tool to encourage hosts to improve their offerings [85][86] - The company is also providing warnings and education to hosts to improve the overall quality of listings [87] Question: Performance Marketing ROI - Airbnb has seen strong ROIs from performance marketing, driven by expanded target audiences, keyword coverage, and improved landing pages [90] Question: International Market Economics - Expanding into international markets with lower ADRs is expected to be accretive to the business, even if it lowers the global ADR [97] Question: Q3 Booking Backlog - The company has a strong backlog for Q3, giving confidence in revenue acceleration above Q2 levels [98]

For the quarter ended March 2024, Airbnb, Inc. (ABNB) reported revenue of $2.14 billion, up 17.8% over the same period last year. EPS came in at $0.41, compared to $0.18 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.07 billion, representing a surprise of +3.66%. The company delivered an EPS surprise of +78.26%, with the consensus EPS estimate being $0.23.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

Airbnb, Inc. (ABNB) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 78.26%. A quarter ago, it was expected that this company would post earnings of $0.67 per share when it actually produced earnings of $0.76, delivering a surprise of 13.43%.Over the last four quarters, the company has ...

Airbnb Inc (NASDAQ: ABNB) is trading down in extended trading on Wednesday even though it came in ahead of Street estimates in its fiscal first quarter.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Why is Airbnb stock down in after-hours?Copy link to sectionInvestors are concerned because $ABNB issued somewhat of a muted guidance for the future. The vacation rental company now expects its revenue to fall between $2.68 billion and $2.74 billion in Q2 ...

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, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File Number: 001-39778 ______________ Airbnb, Inc. (Exact Name of Registrant as Specified in Its Charter) _________ ...

In this photo illustration, the Airbnb logo is displayed on a computer monitor and cell phone on February 13, 2024 in Los Angeles, California.Airbnb reported first-quarter results on Wednesday that beat analysts' estimates but offered weaker-than-expected guidance. Shares fell more than 5% in extended trading.Here's how the company did, compared with consensus expectations from LSEG:Earnings per share: 41 cents vs. 24 cents expectedRevenue: $2.14 billion vs. $2.06 billion expectedRevenue increased 18% from ...

Exhibit 99.1 ...