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Jun 30, 2025
Airbnb Q2 2025 Earnings Report
Airbnb delivered strong revenue and earnings growth in Q2 2025 driven by solid travel demand and successful expansion of services and experiences.
Key Takeaways
Airbnb exceeded expectations in Q2 2025 with $3.1B in revenue and $642M in net income. The company expanded its offerings beyond stays, introduced a redesigned app, and achieved growth in key international markets.
Revenue reached $3.1 billion, up from $2.748 billion in Q2 2024.
Net income rose to $642 million, representing a 21% margin.
Gross Booking Value (GBV) grew to $23.5 billion with increased ADR and international demand.
New services and experiences launched in May, receiving strong interest and positive feedback.
Revenue by Geographic Location
Forward Guidance
Airbnb expects Q3 2025 revenue between $4.02B and $4.10B with stable booking volume but potential margin compression due to investments.
Positive Outlook
- Strong demand trends observed in July, especially in North America.
- Stable YoY growth expected in Nights and Seats Booked.
- ADR expected to increase modestly due to FX.
- Adjusted EBITDA projected to exceed $2.0B in Q3.
- FY25 Adjusted EBITDA Margin expected to be at least 34.5%.
Challenges Ahead
- Tough YoY comparison toward the end of Q3 and into Q4.
- Adjusted EBITDA Margin in Q3 and Q4 expected to decline YoY.
- Revenue growth expected to slow later in the year.
- Higher investments in new growth and policy initiatives will impact margins.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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