Airbnb reported a strong Q3 performance with record revenue growth, high adjusted EBITDA, and significant international market expansion. Key initiatives such as AI integration and the launch of service experiences and hotels show promise. However, there are concerns about increased cancellations from the 'Reserve Now, Pay Later' program, and a significant tax-related impact on net income.

Company Guidance

During Airbnb's third-quarter earnings call for 2025, the company reported a strong performance, with revenue increasing by 10% year-over-year to $4.1 billion, reaching the high end of their guidance. Adjusted EBITDA exceeded $2 billion, marking the highest in any quarter for the company, with a 50% EBITDA margin. Gross booking value rose by 14% year-over-year to $22.9 billion, driven by a 9% increase in nights and seats booked. The company also highlighted its strategic focus on four key growth areas: enhancing service quality, expanding globally, diversifying offerings, and integrating AI across the platform. Notably, Airbnb introduced the "Reserve Now, Pay Later" option, which significantly contributed to bookings in the U.S., and is expected to be rolled out more broadly. They also discussed their international expansion, with first-time bookers increasing by over 20% in Japan and nearly 50% in India. For Q4, Airbnb anticipates revenue growth of 7% to 10% year-over-year, with an expected GMV growth in the low double digits. They aim to maintain strong margins while continuing to invest in growth initiatives, projecting a full-year adjusted EBITDA margin of approximately 35%.

Record Q3 Revenue Growth

Airbnb's revenue increased 10% year-over-year, reaching $4.1 billion, which was at the high end of their guidance.

Highest Adjusted EBITDA in a Quarter

Adjusted EBITDA exceeded $2 billion, representing a 50% EBITDA margin, the highest in any quarter for Airbnb.

Gross Booking Value Surge

Gross booking value grew 14% year-over-year to $22.9 billion, driven by strong growth in both bookings and price.

Expansion in International Markets

Average nights booked in expansion markets grew at double the rate of core markets, with first-time bookers up over 20% in Japan and nearly 50% in India.

AI Integration Across the Platform

Airbnb integrated AI extensively across the app, including smarter AI customer support and AI-powered search, reducing the need for human agent contact by 15% in the U.S.

Launch of Service Experiences and Hotels

Expanded beyond stays to include services and experiences, receiving high ratings. Hotels pilot launched in L.A., New York City, and Madrid.

Airbnb (ABNB) Earnings, Revenues Date & History

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ABNB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 17, 2026	2025 (Q4)	0.66 / -	0.73	―	―	―
Nov 06, 2025	2025 (Q3)	2.31 / 2.21	2.13	3.76% (+0.08)	―
Aug 06, 2025	2025 (Q2)	0.94 / 1.03	0.86	19.77% (+0.17)	―
May 01, 2025	2025 (Q1)	0.23 / 0.24	0.41	-41.46% (-0.17)	―
Feb 13, 2025	2024 (Q4)	0.58 / 0.73	-0.55	232.73% (+1.28)	―
Nov 07, 2024	2024 (Q3)	2.14 / 2.13	6.63	-67.87% (-4.50)	―
Aug 06, 2024	2024 (Q2)	0.91 / 0.86	0.98	-12.24% (-0.12)	―
May 08, 2024	2024 (Q1)	0.23 / 0.41	0.18	127.78% (+0.23)	―
Feb 13, 2024	2023 (Q4)	0.66 / -0.55	0.48	-214.58% (-1.03)	―
Nov 01, 2023	2023 (Q3)	2.12 / 6.63	1.79	270.39% (+4.84)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ABNB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2025	$120.53	$120.88	+0.29%
Aug 06, 2025	$130.50	$120.03	-8.02%
May 01, 2025	$124.01	$125.26	+1.01%
Feb 13, 2025	$141.04	$161.42	+14.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.