Airbnb Inc. on Thursday reported third-quarter sales and other demand metrics that were above Wall Street’s estimates, and the lodging platform said it was “seeing strong demand trends” for the fourth quarter despite a sales outlook that didn’t totally clear analysts’ expectations.
Earnings Presentation : https://s26.q4cdn.com/656283129/files/doc_financials/2024/q3/Airbnb_Q3-2024-Shareholder-Letter_Final.pdf
Revenue:
Q3 revenue of $3.7 billion increased 10% compared to Q3 2023 primarily driven by the growth of nights stayed on the platform.
Net Income:
We generated $1.4 billion of net income during Q3 2024 and delivered a 37% net income margin, demonstrating significant profitability.
Adjusted EBITDA*
Our Q3 Adjusted EBITDA of $2.0 billion represented a 52% Adjusted EBITDA Margin, demonstrating the strength of the business and broad cost discipline.
Free Cash Flow (“FCF”)*
We generated $1.1 billion of net cash provided by operating activities and $1.1 billion of FCF in Q3. Our trailing twelve months (“TTM”) FCF was $4.1 billion, representing a TTM FCF Margin of 38%.
“Airbnb had a strong Q3. Nights and Experiences Booked accelerated throughout the quarter and into Q4, despite a softer start due to shorter booking lead times compared to 2023. Revenue grew 10% yearover-year to $3.7 billion. Net income was $1.4 billion, representing a net income margin of 37%. Adjusted EBITDA of $2.0 billion increased 7% year-over-year and represented an Adjusted EBITDA Margin of 52%. We generated $1.1 billion of FCF during Q3 and $4.1 billion of FCF over the trailing twelve months, highlighting the strength of our cash-generating business model.”