NASDAQ$ABNB
Airbnb Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Airbnb's business model proved adaptable as Q2 2021 revenue increased, net loss improved, Adjusted EBITDA was positive, and active listings reached their highest level.
Airbnb's Q2 2021 results showcased a strong recovery, with revenue increasing nearly 300% year-over-year and exceeding Q2 2019 by 10%. The company's net loss significantly improved, and Adjusted EBITDA turned positive. Nights and Experiences Booked nearly matched pre-COVID levels, and active listings grew.
- Q2 2021 revenue increased nearly 300% year-over-year and exceeded Q2 2019 by 10%.
- Net loss in Q2 2021 was $68 million, an improvement of $507 million compared to Q2 2020 and $229 million compared to Q2 2019.
- Adjusted EBITDA in Q2 2021 was $217 million, a substantial improvement from $(397) million in Q2 2020 and $(43) million in Q2 2019.
- Nights and Experiences Booked of 83.1 million represented a significant increase from a year ago (+197% Y/Y) and nearly recovered to Q2 2019 levels (-1% Y/2Y).
Headline financials
Revenue & EPS history
Airbnb · Revenue · Quarterly
$1.34B
Forward guidance
Airbnb anticipates the impact of COVID-19 and new variants to continue affecting travel behavior. Q3 2021 revenue is expected to be the strongest quarterly revenue on record, with the highest Adjusted EBITDA dollars and margin ever.
Tailwinds
- Q3 2021 revenue is expected to be the strongest quarterly revenue on record.
- The company anticipates delivering the highest Adjusted EBITDA dollars and margin ever in Q3 2021.
- Adjusted EBITDA margins are expected to be higher in the second half of 2021 than in the first half.
- Sales and marketing expense as a percentage of revenue in the second half of 2021 will be lower than that of the first half.
- Operations and support expense as a percentage of revenue is expected to decline in the second half of 2021 compared to the first half.
Headwinds
- The impact of COVID-19 and the introduction and spread of new variants will continue to affect overall travel behavior.
- Year-over-year comparisons for Nights and Experiences Booked and GBV will continue to be more volatile and non-linear.
- Nights and Experiences Booked in Q3 2021 are expected to come down from Q2 and remain below Q3 2019 levels.
- ADR is expected to gradually moderate based on the anticipated shift in regional composition and return to urban destinations.
- GBV in Q3 2021 is expected to be well above 2019 levels but below what was seen in Q2 due to booking timing differences and cancellations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+0.5%
Avg return
Earnings day
-1.5%
Avg return
5 days after
-2.1%
Avg return
30 days after
50%
11 / 22 earnings
Positive
+17.7%
Q4 2022
Best reaction
-11.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -5.7% | -4.9% | |
| Q4 2025 | +4.6% | +7.2% | +8.9% | |
| Q3 2025 | -3.9% | +1.0% | +3.1% | |
| Q2 2025 | -8.0% | -6.8% | -5.1% | |
| Q1 2025 | +1.0% | -0.7% | +4.0% | |
| Q4 2024 | +14.4% | +12.0% | -12.9% | |
| Q3 2024 | -4.5% | -5.5% | -2.8% | |
| Q2 2024 | -9.8% | -8.2% | -7.3% | |
| Q1 2024 | -8.0% | -6.7% | -8.2% | |
| Q4 2023 | -3.6% | -0.8% | +8.2% | |
| Q3 2023 | -2.4% | -0.1% | +14.1% | |
| Q2 2023 | -3.0% | -3.5% | -8.2% | |
| Q1 2023 | -9.9% | -16.2% | -8.1% | |
| Q4 2022 | +17.7% | +13.0% | +3.1% | |
| Q3 2022 | -11.7% | -10.1% | -5.3% | |
| Q2 2022 | +3.4% | +5.3% | +2.0% | |
| Q1 2022 | +2.2% | -11.1% | -20.6% | |
| Q4 2021 | +10.0% | +3.1% | -7.1% | |
| Q3 2021 | +16.6% | +12.6% | -3.5% | |
| Q2 2021 | +3.1% | -2.9% | +11.5% | |
| Q1 2021 | +0.7% | -3.7% | +5.8% | |
| Q4 2020 | +3.1% | -5.1% | -12.9% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — |
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