Airbnb (ABNB) Q3 2024 Earnings Call Transcript
Airbnb’s Earnings Call for Q3 2024: A Winning Streak Continues 🏨
Prepared Remarks
Airbnb’s Q3 2024 earnings call is filled with exciting updates and impressive numbers. The company had a strong quarter, with nights and experiences booked accelerating throughout the period. Here’s a breakdown of the key highlights:
Strong Financials
- Revenue grew 10% year over year to $3.7 billion
- Net income was $1.4 billion, representing a net income margin of 37%
- Generated $1.1 billion of free cash flow
- Total trailing 12-month free cash flow was $4.1 billion
Growth Strategies
- Making hosting mainstream: Over 8 million active listings, with growth across all regions and market types
- Perfecting core service: Launched over 535 new features and upgrades to make Airbnb a better service
- Expanding beyond core markets: Growing presence in underpenetrated markets, with success in Japan and Paris
Experiences
- Experiences bookings accelerated throughout the quarter, with global lead times normalizing
- Nights booked on Airbnb app increased 18% year over year in Q3
- App bookings now account for 58% of nights booked
Paris Partnership
- Airbnb partnered with the City of Paris for the Olympics, increasing home listings from 100,000 to 150,000
- 700,000 guests stayed in Paris during the Olympics
- The partnership showcases Airbnb’s potential to solve urban housing challenges
Looking Ahead
- Brian Chesky emphasized the importance of experiences, stating that they will increase the frequency of usage for Airbnb
- Experiences will not be limited to travel, with opportunities for local bookings in the future
- Airbnb is exploring ways to integrate experiences with its core offerings
Call Participants
- The call featured discussions with Brian Chesky, Co-Founder and CEO, and Ellie Mertz, Chief Financial Officer, among others
Final Thoughts
Airbnb’s Q3 2024 earnings call highlights the company’s continued growth and innovative strategies. With a strong financial performance and expanding presence in new markets, Airbnb is well-positioned for future success.