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Sep 30, 2022
Airbnb Q3 2022 Earnings Report
Airbnb's Q3 2022 results demonstrated strong growth and profitability despite macroeconomic headwinds
Key Takeaways
Airbnb reported a record Q3 2022 with nearly 100 million Nights and Experiences Booked, $15.6 billion in Gross Booking Value, and $2.9 billion in revenue. The company also achieved a net income of $1.2 billion and free cash flow of $960 million, showcasing its ability to drive growth and profitability at scale.
Nights and Experiences Booked grew by 25% year-over-year to 99.7 million.
Gross Booking Value increased by 31% year-over-year to $15.6 billion (40% ex-FX).
Revenue grew by 29% year-over-year to $2.9 billion (36% ex-FX), marking the highest quarter ever.
Net income reached $1.2 billion, up 46% year-over-year, with a net income margin of 42%.
Airbnb
Airbnb
Airbnb Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comLatin America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
For Q4 2022, Airbnb expects revenue between $1.80 billion and $1.88 billion, representing year-over-year growth of 17% to 23%. They also anticipate Adjusted EBITDA to be up meaningfully on a nominal basis from Q4 2021, with quarterly Adjusted EBITDA margin in-line to modestly higher than last year's margin of 22%.
Positive Outlook
- Promising trends in cross-border travel are being observed.
- There is a renewed interest in urban stays.
- Cancellation rates are stabilizing.
- A strong backlog of future bookings is present.
- Adjusted EBITDA is expected to increase meaningfully.
Challenges Ahead
- Nights and Experiences Booked growth is expected to moderate slightly relative to Q3 2022.
- ADR will face some pressure from FX headwinds.
- ADR will face pressure from business mix.
- Revenue as a share of GBV is expected to decrease relative to Q3 2022, consistent with historical seasonality.
- Macroeconomic uncertainties persist.