Core Insights - Airbnb reported third-quarter 2025 adjusted earnings of $2.21 per share, missing the Zacks Consensus Estimate by 3.49% [1] - Revenues reached $4.095 billion, a 10% year-over-year increase, surpassing the Zacks Consensus Estimate by 0.25% [1] Financial Performance - Gross Booking Value (GBV) for Q3 2025 was $23 billion, up 14% year-over-year [4] - Nights and Seats Booked totaled 133.6 million, reflecting an 8.8% year-over-year increase [5] - Average Daily Rate (ADR) was $171.3, up 4.7% year-over-year [5] - Adjusted EBITDA was $1.96 billion, a 4.7% increase year-over-year, with an adjusted EBITDA margin of 52.5% [8] Cost and Expenses - Total costs and expenses as a percentage of revenues increased by 120 basis points year-over-year to 59.1% [7] - Cost of revenues increased by 90 basis points year-over-year [7] Cash Flow and Balance Sheet - As of September 30, 2025, cash and cash equivalents totaled $11.68 billion, up from $11.4 billion as of June 30 [11] - Free cash flow generated in Q3 2025 was $1.35 billion, with $4.55 billion over the trailing 12 months [12] Guidance - For Q4 2025, Airbnb expects revenues between $2.66 billion and $2.72 billion, indicating a year-over-year increase of 7-10% [13] - The company anticipates mid-single-digit year-over-year growth in Nights and Seats Booked for Q4 2025 [13]