Financial Data and Key Metrics Changes - Revenue grew 10% year-over-year to $3.7 billion [7] - Net income was $1.4 billion, representing a net income margin of about 37% [7] - Free cash flow generated was $1.1 billion, with a total trailing 12-month free cash flow of $4.1 billion [7] - The company repurchased $1.1 billion of its shares in the quarter, with $4.2 billion remaining on its repurchase authorization [8] Business Line Data and Key Metrics Changes - Nights and experiences booked totaled 123 million, with bookings returning to double-digit growth by the end of Q3 [6][25] - Nights booked on the app increased 18% year-over-year, accounting for 58% of total nights booked, up from 53% in the same period last year [16] - The growth rate of nights booked in expansion markets more than doubled that of core markets [14] Market Data and Key Metrics Changes - Guest demand accelerated throughout Q3, with normalized global lead times [15] - Specific growth was noted in underpenetrated markets, with Brazil's destination nights tripling compared to pre-pandemic levels [53] - Japan is identified as a significant market for future growth, with ongoing brand campaigns to raise awareness [18][53] Company Strategy and Development Direction - The company is focused on three strategic initiatives: making hosting mainstream, prospecting core services, and expanding beyond core markets [8] - The introduction of co-host networks aims to make hosting easier and attract more hosts [10][22] - The company plans to launch 1 to 2 new businesses annually that will generate $1 billion or more in revenue [51] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential, emphasizing the importance of quality and reliability in driving bookings [69] - The company anticipates that nights booked will accelerate in Q4 relative to Q3, despite tougher year-over-year comparisons [25] - Management highlighted the need for continued investment in growth initiatives, particularly in global markets and new products [41][42] Other Important Information - The company has removed over 300,000 listings that did not meet quality standards, leading to improved customer service metrics [20][71] - The introduction of AI-powered customer service is underway, with plans for phased implementation [72][75] Q&A Session Summary Question: Supply growth and co-hosting impact - Management noted that supply growth continues to exceed demand, with a focus on quality over quantity [30] - Co-hosting initiatives are expected to unlock additional supply, particularly from everyday people [32] Question: Geographic performance and co-hosting materiality - Acceleration in bookings was noted across all major regions, particularly in EMEA post-Olympics [35] - Co-hosting has shown promising results in pilot markets, but scaling will take time [36] Question: Q4 EBITDA margin guidance - The guidance implies margin compression due to increased investment in product development and marketing [38] Question: Attracting the next billion guests - Management emphasized the importance of quality, affordability, and usability in attracting new guests [46] Question: Expansion markets and growth contribution - Core markets represent about 75% of gross booking value, with significant opportunities in emerging markets like Brazil and Japan [53] Question: Long-term growth algorithm - The company aims to optimize its core offering while expanding into new markets, with a focus on reducing barriers to booking [57][58] Question: New services and revenue growth - New services are expected to generate incremental revenue, but significant scaling will take time [80] Question: Experiences and engagement - Experiences are anticipated to increase overall engagement and frequency of usage, appealing to local customers as well [100]

Airbnb (NASDAQ: ABNB ) stock is experiencing volatility after the close Thursday following third quarter earnings. The company continues to see increases in bookings and to generate robust cash flow without investing much capital, a winning combo from an investmentTo follow me click the "Follow" button! (Easy right?) Hi there, thanks for coming to my profile page! My name is Kumquat Research (but you can call me Jeremy) and I've been writing for Seeking Alpha on and off for going on ten years now, beginning ...

Airbnb reported earnings after the market closed on Thursday. CEO Brian Chesky pointed to multiple growth areas for the company. He also teased a move beyond short-term rentals that Airbnb will make public in 2025. Insider Today NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on th ...

Airbnb, Inc. (ABNB) reported $3.73 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 9.9%. EPS of $2.13 for the same period compares to $2.39 a year ago.The reported revenue represents a surprise of +0.26% over the Zacks Consensus Estimate of $3.72 billion. With the consensus EPS estimate being $2.17, the EPS surprise was -1.84%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Airbnb, Inc. (ABNB) came out with quarterly earnings of $2.13 per share, missing the Zacks Consensus Estimate of $2.17 per share. This compares to earnings of $2.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.84%. A quarter ago, it was expected that this company would post earnings of $0.92 per share when it actually produced earnings of $0.86, delivering a surprise of -6.52%.Over the last four quarters, the company has ...

Airbnb (ABNB) reported third-quarter revenue that beat expectations, but profits fell short.  The vacation rental marketplace saw revenue grow 10% year-over-year to $3.73 billion, ahead of the analyst consensus from Visible Alpha. However, its net income came in at $1.37 billion or $2.13 per share, down from $4.37 billion or $6.63 per share a year earlier and missing expectations.  Nights and Bookings Growth Slows The company’s Nights and Experiences Booked came in at 122.8 million, up 8% from a year ag ...

Financial Performance - For the three months ended September 30, 2024, revenue grew by 10% to $3.7 billion compared to the same period in the prior year[115]. - Net income for the same period decreased by 69% to $1.4 billion, primarily due to an increase in income tax expense of $3.1 billion[116]. - Adjusted EBITDA increased by 7% to $2.0 billion for the three months ended September 30, 2024[117]. - Nights and Experiences Booked reached 122.8 million, an 8% increase from 113.2 million for the same period in the prior year[121]. - Gross Booking Value (GBV) was $20.1 billion, a 10% increase from $18.3 billion for the same period in the prior year[123]. - Revenue for the three months ended September 30, 2024, increased by $335 million, or 10%, to $3.732 billion compared to the same period in the prior year[139]. - Adjusted EBITDA for the nine months ended September 30, 2024, increased by $361 million to $3.3 billion, with a consistent margin of 38%[130]. - Revenue for the nine months ended September 30, 2024, increased by $923 million, or 12%, to $8.622 billion compared to the same period in the prior year[139]. Cash Flow and Liquidity - Free Cash Flow for the three months ended September 30, 2024, was $1.1 billion, compared to $1.3 billion in the same period in the prior year[117]. - Net cash provided by operating activities was $1.1 billion, a decrease from $1.3 billion in the same period in the prior year[126]. - Free Cash Flow for the three months ended September 30, 2024, decreased to $1.074 billion, representing 29% of revenue, down from 39% in the same period last year[132]. - Net cash provided by operating activities for the nine months ended September 30, 2024 was $4.1 billion, primarily due to net income of $2.2 billion[163]. - Net cash used in investing activities for the nine months ended September 30, 2024 was $396 million, primarily due to purchases of short-term investments[164]. - As of September 30, 2024, the company had cash and cash equivalents totaling $7.7 billion, including $2.2 billion held by foreign subsidiaries[158]. - The company anticipates that cash flows generated from operating activities will meet its short-term cash requirements, which include share repurchases and new product introductions[168]. Expenses and Costs - Cost of revenue increased by $6 million, or 1%, for the three months ended September 30, 2024, totaling $465 million[140]. - Operations and support expenses rose by $53 million, or 17%, for the three months ended September 30, 2024, totaling $369 million[142]. - Product development expense increased by $105 million, or 25%, for the three months ended September 30, 2024, primarily due to a $93 million increase in payroll-related expenses[145]. - Sales and marketing expense increased by $111 million, or 28%, for the three months ended September 30, 2024, primarily due to a $83 million increase in marketing activities[148]. - General and administrative expense increased by $31 million, or 10%, for the three months ended September 30, 2024, primarily due to higher non-income taxes and payroll-related expenses[151]. - Cost of revenue for the nine months ended September 30, 2024, increased by $132 million, or 10%, totaling $1.451 billion[141]. Share Repurchase and Capital Management - The company repurchased 8.7 million shares of Class A common stock for $1.1 billion, leaving $4.2 billion available for future repurchases[117]. - The company repurchased an aggregate of 18.3 million shares of Class A common stock for $2.6 billion during the nine months ended September 30, 2024[162]. Tax and Income - The provision for income taxes increased to $367 million for the three months ended September 30, 2024, compared to a tax benefit of $2.7 billion in the same period of the prior year[155]. - The company released $2.8 billion of its valuation allowance related to U.S. deferred tax assets during the three months ended September 30, 2023[131]. - Interest income increased by $15 million, or 8%, for the three months ended September 30, 2024, primarily due to higher cash and investment balances[152]. - Other income (expense), net increased by $12 million, or 133%, for the three months ended September 30, 2024, primarily due to foreign exchange gains[153]. - Net income for the three months ended September 30, 2024, was $1.368 billion, down from $4.374 billion in the same period last year[135]. Risks and Future Outlook - Future capital requirements will depend on factors such as growth, headcount, and customer retention on the platform[168]. - The company may seek to raise additional funds through equity or debt if needed, which may not be available on favorable terms[168]. - The liquidity of the company is subject to various risks, including those identified in the "Quantitative and Qualitative Disclosures about Market Risk" section[168]. - The financial condition and results of operations are based on unaudited condensed consolidated financial statements prepared in accordance with U.S. GAAP[169]. - The preparation of financial statements requires estimates and assumptions that may differ from actual results under different conditions[169]. - Recent accounting pronouncements and their implications are detailed in the company's quarterly report[170].

Brian Chesky, co-founder and chief executive officer of Airbnb Inc., during a news conference in Los Angeles, California, US, on Wednesday, May 1, 2024.Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. The stock jumped about 8% in after-hours trading.Here's how the company did:Earnings per share: $2.13 vs. $2.14 expected by LSEGRevenue: $3.73 billion vs. $3.72 billion expected by LSEGRevenue increased 10% from $3.4 billion a ye ...

SAN FRANCISCO, Nov. 7, 2024 /PRNewswire/ -- Airbnb, Inc. (NASDAQ: ABNB) has posted a shareholder letter containing its third 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://regist ...

Exhibit 99.1 3 2024 Shareholder Letter airbnb | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------| | | | | Key Financial Measures | Q3 2024 | | Revenue | $3.7B | | Q3 revenue of $3.7 billion increased 10% compared to Q3 2023 primarily driven by the growth of nights stayed on the platform. | 10% Y/Y 10% Y/Y (ex-FX) | | Net Income | $1.4B | | We generat ...