Airbnb beats revenue, profit and bookings estimates with its Q2 earnings report
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Airbnb (NASDAQ:ABNB) fell slightly in postmarket trading after reporting Q2 results ahead of estimates and setting guidance higher than the consensus expectation.
For Q2, the company reported that gross booking value rose to $19.1B from a year ago vs. the consensus estimate of $18.8B. Revenue was up 18% to $2.48B to top the consensus estimate of $60M. Net income was $650M vs. $379M a year ago. Adjusted EBITDA rose 15% to $819M, which the company said demonstrated the continued strength of the business and discipline in managing the cost structure.
Nights and Experiences booked increased 11% compared to the prior year, driven by growth in all regions.
Free cash flow was $900MB during the quarter, up 13% from a year ago.
Looking ahead, Airbnb (ABNB) expects Q3 revenue of $3.3B to $3.4B vs consensus of $3.22B. ABNB expects a record-high adjusted EBITDA tally on a nominal basis and an adjusted EBITDA margin that exceeds Q3 of a year ago. For the full-year, ABNB expects an adjusted EBITDA margin that is modestly higher than the full-year 2022.
Shares of Airbnb (ABNB) fell 0.95% in after-hours trading to $137.91. That move follows a 2.55% decline during the regular session.
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