Airbnb(US:ABNB) Zhi Tong Cai Jing·2026-02-12 23:49Core Viewpoint - Airbnb (ABNB.US) reported strong Q4 earnings, with optimistic revenue guidance for 2026, indicating robust global travel demand, leading to a nearly 7% increase in stock price during after-hours trading [1] Financial Performance - Q4 revenue reached $2.78 billion, a 12% year-over-year increase, surpassing analyst expectations of $2.72 billion, marking the 20th out of the last 21 quarters that the company exceeded Wall Street revenue forecasts [1] - Adjusted EBITDA for Q4 was $786 million [1] - Net profit for the quarter was $341 million, translating to earnings per share of $0.56, down from $461 million ($0.73 per share) in the same period last year, and below market expectations of $0.66 per share [3] Key Operational Metrics - The number of booked nights and experiences in Q4 reached 121.9 million, a 10% year-over-year increase, exceeding market expectations of 117.6 million [3] - Total booking value, including host income, service fees, cleaning fees, and taxes, was $20.4 billion, up 16% year-over-year, also surpassing analyst predictions of $19.4 billion [3] Growth Drivers - The "Book Now, Pay Later" option launched in the U.S. last year was well-received, significantly boosting Q4 order growth, with plans to expand this payment flexibility globally by 2026 [5] - More lenient cancellation policies contributed to increased holiday season bookings and reduced customer service inquiries [5] - Emerging markets like India, Brazil, and Japan are becoming key growth drivers, with first-time booking users in India increasing by over 60% [5] Product and Technology Innovations - Airbnb relaunched its "Travel and Experiences" business last May and introduced a new category for single-service bookings [5] - The company is piloting grocery delivery services in collaboration with Instacart and is introducing boutique hotel listings in markets with strict regulations and limited supply [5] - A new Chief Technology Officer was appointed, with plans to roll out AI customer service assistants globally later this year and enhance search experiences for users [5] Future Outlook - For Q1 2026, Airbnb expects revenue between $2.59 billion and $2.63 billion, above Wall Street's expectation of $2.53 billion [6] - The company anticipates revenue growth to increase from 10% in 2025 to "at least low double digits," aligning with analyst expectations of 10.2% [6] - Despite the growth acceleration, profit margins are expected to remain stable, with adjusted EBITDA margins projected to hold at around 35% [6] - The company plans to continue investing in marketing, products, and technology to support business diversification [6]