Airbnb Reports Third-Quarter Revenue Slightly Above Analysts’ Expectations

Airbnb released third-quarter earnings that just barely beat analysts’ expectations. Revenue for the three-month period came in at $3.73 billion, slightly higher than the $3.72 billion predicted.

The company reported a net income of $1.37 billion, about $2.13 per share, a significant drop compared to Q3 2023’s $4.37 billion. Adjusted EBITDA was $2 billion, a 7% uptick year over year.

By the end of the current quarter, Airbnb projects revenue between $2.39 billion and $2.44 billion. The forecast is nearly in line with the $2.42 billion revenue analysts are looking for.

In the third quarter, Airbnb saw bookings in regions outside its core market double. Inspired by this realization, the company plans to concentrate expansion efforts into these areas.

“We’ll remain focused on accelerating growth while preparing for Airbnb’s next chapter, which will take us beyond accommodations,” noted Airbnb, per CNBC. “You’ll see more on this next year.”

Other Airbnb Metrics

Gross booking value, which measures host earnings, cleaning costs, service fees, and taxes, reached $20.1 billion, higher than the $18.3 billion reported last year. Airbnb active listings during the quarter reached over 8 million.

Up 8% versus the same period in 2023, roughly 123 million nights and experiences were booked through the platform. The average daily rate for a stay went up 1%, to $164, compared to a year ago.

Airbnb also reported strong numbers for Q2 2024. The company saw record revenue during the period related to a boost in bookings for various events such as the Paris 2024 Olympics.

Airbnb was founded in 2007 as a marketplace to match travelers with hosts offering accommodations. Now a household name, the company has disrupted the traditional hospitality model. As a result, Airbnb has faced various regulatory challenges from government agencies as well as increased competition from hotel chains and alternative booking platforms.