Airbnb Q4 Earnings: Revenue Beat, GBV Up 15%, $6B Buyback And More

Airbnb Inc ABNB reported fourth-quarter financial results Tuesday after the close. Here’s a look at the key metrics from the quarter.

What Happened: Airbnb said fourth-quarter revenue increased 17% year-over-year to $2.22 billion, which beat the consensus estimate of $2.16 billion, according to Benzinga Pro. The company said its top-line results were driven by continued strength in travel demand as well as a foreign exchange rate tailwind.

Airbnb reported a quarterly loss of 55 cents per share. The company said it generated $63 million in net cash from operating activities and $46 million in free cash flow during the quarter. As of Dec. 31, Airbnb had $10.1 billion in cash, equivalents and short-term investments.

Gross booking value totaled $15.5 billion, up 15% year-over-year. Nights and Experiences booked came in at 98.8 million, up 12% year-over-year. Average daily rates came in at $157 in the fourth quarter, up 3% year-over-year.

Airbnb also announced that its board approved a share repurchase program of up to $6 billion.

“We remain committed to maintaining financial discipline and delivering strong profitability. We also believe we have meaningful growth opportunities ahead,” the company said in a letter to shareholders.

Outlook: Airbnb sees first-quarter revenue in the range of $2.03 billion to $2.07 billion versus estimates of $2.03 billion. The company expects its take rate to be notably higher on a year-over-year basis.

Nights booked growth is expected to moderate in the first quarter and average daily rates are expected to be flat to slightly up.

Airbnb anticipates full-year adjusted EBITDA growth for full-year 2024. The company expects to maintain a full-year adjusted EBITDA margin of at least 35%.

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

Don’t Miss This: Airbnb Will Benefit From ‘Healthy’ Travel Conditions, Analyst Says Ahead Of Q4 Earnings

ABNB Price Action: Airbnb shares were flat after hours at $151.10 at the time of publication, according to Benzinga Pro.

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