NASDAQ$ABNB
Airbnb Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Airbnb reported strong Q3 2023 results, marked by revenue growth, net income increase, and adjusted EBITDA improvement.
Airbnb's Q3 2023 demonstrated strong financial performance with revenue reaching $3.4 billion, a net income of $4.4 billion (including a one-time tax benefit), and adjusted EBITDA of $1.8 billion. Nights and Experiences Booked grew to 113.2 million, and Free Cash Flow was $1.3 billion. The company is closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand.
- Q3 revenue was $3.4 billion, up 18% year-over-year.
- Net income was $4.4 billion, which included a $2.8 billion one-time, non-cash income tax benefit.
- Adjusted EBITDA was $1.8 billion, up 26% year-over-year.
- Free Cash Flow was $1.3 billion, up 37% year-over-year.
Headline financials
Revenue & EPS history
Airbnb · Revenue · Quarterly
$3.4B
Forward guidance
For Q4 2023, Airbnb expects revenue between $2.13 billion and $2.17 billion, representing year-over-year growth of 12% to 14%. They anticipate a slightly higher take rate compared to Q4 2022, moderating nights booked growth relative to Q3 2023, and stable to slightly up ADR. A record-high fourth quarter Adjusted EBITDA is expected, with an Adjusted EBITDA margin exceeding Q4 2022, leading to a full-year 2023 Adjusted EBITDA margin approximately 150 bps higher than full-year 2022.
Tailwinds
- Revenue growth between 12% and 14% year-over-year is expected.
- Implied take rate is anticipated to be slightly higher than Q4 2022.
- ADR is expected to be stable to slightly up compared to the same period last year.
- A record-high fourth quarter Adjusted EBITDA is expected in 2023 on a nominal basis.
- Adjusted EBITDA margin for full-year 2023 is expected to be approximately 150 bps higher than full-year 2022.
Headwinds
- Greater volatility early in Q4 is being observed.
- Macroeconomic trends may impact travel demand.
- Geopolitical conflicts may impact travel demand.
- Nights booked growth in Q4 2023 is expected to moderate relative to Q3 2023.
- The company is closely monitoring these factors.
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 Q3 2023
+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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