Earnings
Home›Earnings›Results›Airbnb stock jumps after Q2 beat and raised full-year…
Airbnb stock jumps after Q2 beat and raised full-year outlook
Second-quarter revenue rose to $3.6 billion, with gross booking value up 16% to $27.2 billion, and the company lifted guidance for adjusted EBITDA margin to at least 35.5%.
Airbnb shares surged about 16% to a more than four-year high of $176.20 after the vacation rental platform delivered better-than-expected June-quarter performance and upbeat guidance, easing worries that the Middle East conflict could weigh on global travel demand, according to LiveMint Markets.
For the quarter, Airbnb reported revenue of $3.6 billion, up 16.5% year-on-year, while gross booking value increased 16% to $27.2 billion. Nights and experiences booked climbed to 148.3 million, surpassing analysts' estimates.
The company also highlighted profitability, with net income of $816 million and adjusted EBITDA rising 21% to $1.3 billion. Its adjusted EBITDA margin improved to 35%, supported in part by lower customer support costs per booking, which management attributed partly to gains from its AI-powered assistant.
Looking ahead, Airbnb raised its full-year outlook for a second consecutive quarter, now expecting at least mid-teens revenue growth and an adjusted EBITDA margin of at least 35.5%. For the ongoing quarter, the company forecast revenue between $4.69 billion and $4.77 billion, implying 15% to 17% growth.