Airbnb(US:ABNB) ZACKSยท2025-05-02 16:15Core Insights - Airbnb reported first-quarter 2025 adjusted earnings of 24 cents per share, missing the Zacks Consensus Estimate by 4% [1] - Revenues reached $2.272 billion, a 6.1% year-over-year increase, beating the Zacks Consensus Estimate by 0.44% [1] - The Gross Booking Value for Q1 2025 was $24.5 billion, up 7% year-over-year [2] Revenue Details - Nights and Experiences Booked totaled 143.1 million, reflecting an 8% year-over-year increase [2] - Average Daily Rate (ADR) was $171, down 1% year-over-year, but grew 1% excluding forex [2] - Nights booked on the app increased 17% year-over-year, comprising 58% of total nights booked [3] Operating Details - Adjusted EBITDA was $765 million, a 3.7% increase year-over-year, with an adjusted EBITDA margin of 30.8% [4] - Operating income for Q1 2025 was $38 million, with an operating margin of 1.7%, down 3% year-over-year [5] Balance Sheet & Cash Flow - As of March 31, 2025, cash and cash equivalents were $11.492 billion, up from $10.6 billion at the end of 2024 [6] - Net cash provided by operating activities was $1.8 billion for Q1 2025, down from $1.9 billion in the year-ago quarter [6] - Free cash flow generated in Q1 2025 was $1.781 billion, with $4.356 billion over the trailing 12 months [7] Share Repurchase - Airbnb repurchased shares worth $807 million in Q1 2025, with $2.5 billion remaining under repurchase authorization [7] Q2 Forecast - For Q2 2025, Airbnb expects revenues between $2.99 billion and $3.05 billion, indicating a year-over-year increase of 9-11% [8] - ADR is anticipated to remain flat year-over-year, with moderate growth expected in Nights and Experiences Booked [10] - Adjusted EBITDA is expected to increase year-over-year, with EBITDA margins flat or slightly down compared to Q2 2024 [10] 2025 Outlook - For the full year 2025, Airbnb expects an adjusted EBITDA margin of 34.5%, indicating strong profitability while pursuing growth [11]