NASDAQ$ABNB
Airbnb Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Airbnb ended 2023 with a strong fourth quarter, demonstrating growth in Nights and Experiences Booked and revenue.
Airbnb's Q4 2023 results showed strong growth with Nights and Experiences Booked totaling 98.8 million and revenue reaching $2.2 billion, up 17% year-over-year. The company reported a net loss of $349 million, which included non-recurring tax items, but Adjusted Net Income was $489 million. Adjusted EBITDA was $738 million, representing a 33% Adjusted EBITDA Margin.
- Q4 revenue was $2.2 billion, up 17% year-over-year.
- Q4 net loss was $349 million, including non-recurring tax items; Adjusted Net Income was $489 million.
- Q4 Adjusted EBITDA was $738 million, up 46% year-over-year.
- Q4 Free Cash Flow was $46 million, including non-recurring tax items.
Headline financials
Revenue & EPS history
Airbnb · Revenue · Quarterly
$2.22B
Forward guidance
For Q1 2024, Airbnb expects revenue between $2.03 billion and $2.07 billion, representing year-over-year growth of 12% to 14%. The implied take rate is anticipated to be higher than Q1 2023 due to the timing of the Easter holiday. Adjusted EBITDA Margin is expected to expand relative to Q1 2023, with a full-year Adjusted EBITDA Margin of at least 35%.
Tailwinds
- Revenue of $2.03B to $2.07B is expected for Q1 2024, representing 12-14% Y/Y growth.
- Implied take rate in Q1 2024 will be notably higher than Q1 2023.
- Adjusted EBITDA Margin in Q1 2024 is expected to expand relative to Q1 2023.
- Expect to maintain an Adjusted EBITDA Margin of at least 35% for the full-year 2024.
- Nominal Adjusted EBITDA growth is expected for both Q1 and full-year 2024.
Headwinds
- Growth rate of nights booked in Q1 2024 is expected to moderate relative to Q4 2023.
- Year-over-year revenue growth in Q1 2024 will benefit from the timing of Easter, at the expense of year-over-year growth in Q2 2024.
- Marketing spend will continue to be weighted more towards the first half of the year than the second half of the year.
- The growth rate of nights booked in Q1 2024 to moderate relative to Q4 2023 due to particularly strong growth in Q1 2023
- Q1 2024 will benefit due to the timing of Easter at the expense of year-over-year growth in Q2 2024
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 Q4 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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