Form 8-K · Current Report · Filed 2024-08-06
Airbnb Reports Strong Q2 2024 Financial Results
Airbnb, Inc. announced its financial results for the second quarter ended June 30, 2024, via a Shareholder Letter furnished as Exhibit 99.1. The company reported a revenue of $2.75 billion, reflecting an 11% year-over-year growth, driven by increased Nights and Experiences Booked and a modest rise in Average Daily Rate (ADR). Net income stood at $555 million, representing a 20% net income margin. Adjusted EBITDA was $894 million, up 9% year-over-year, with an Adjusted EBITDA Margin of 33%. Free Cash Flow (FCF) was $1.0 billion, marking a 16% year-over-year increase, with a TTM FCF Margin of 41%. Additionally, Airbnb repurchased $749 million of its Class A common stock during Q2 2024, under its $6 billion share repurchase authorization. The company expects Q3 2024 revenue between $3.67 billion and $3.73 billion, with a focus on maintaining its Adjusted EBITDA Margin of at least 35% for the full year 2024.
- Filer
- Airbnb Inc. ABNB · NASDAQ
- Filed
- Accession
- 0001193125-24-194849
- CIK
- 0001559720
- Signal
- Medium impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$125.31
Next session
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Since filing
+20.9%
Latest close
$151.52
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Precedent
Previous filings from ABNB reporting the same item, with the next session's move:
Exhibits (1)
About Airbnb Inc.
Airbnb Inc. is a prominent player in the hospitality industry, offering an innovative online platform for short-term lodging and experiences worldwide. Its primary function is to connect hosts, who offer accommodations or experiences, with travelers seeking unique stays beyond traditional hotels. The Airbnb platform enables users to list, discover, and book accommodations ranging from single rooms and entire homes to treehouses and castles. Beyond hosting, Airbnb provides tourism-related experiences like guided tours, workshops, and cultural events, enhancing the travel experience for users. Airbnb has disrupted the traditional hospitality sector by leveraging the sharing economy, allowing individuals to monetize their property and skills while offering travelers diverse options. Founded in 2008 and headquartered in San Francisco, California, Airbnb has gained considerable market significance, representing a shift towards personalized and flexible travel solutions amidst the global travel industry's rapid evolution.
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