10-K · February 12, 2026
Airbnb positions itself as a two-sided global marketplace focused on improving the core stays product, expanding into less mature markets, and extending the platform beyond travel with a multi-year product roadmap…
Earnings analysis · 10-Q
ABNB earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Airbnb's Q1 2026 showed a solid performance with revenues of $2.7 billion, reflecting an 18% increase year-over-year, alongside earnings per share (EPS) of $0.31, topping analyst expectations. While revenue grew, the…
Read full summary
Airbnb's Q1 2026 showed a solid performance with revenues of $2.7 billion, reflecting an 18% increase year-over-year, alongside earnings per share (EPS) of $0.31, topping analyst expectations. While revenue grew, the company reported slight net income growth to $160 million and maintained strong free cash flow metrics, although concerns regarding geopolitical impacts and rising operational costs were noted.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.31
What stood out
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Strong Revenue Growth
Airbnb reported Q1 2026 revenue of $2.7 billion, up 18% from $2.27 billion in Q1 2025.
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EPS Exceeds Consensus
Diluted EPS for Q1 2026 was $0.31, beating estimates of $0.30.
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Improvement in Net Income
Net income rose to $160 million in Q1 2026 compared to $154 million in Q1 2025.
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Cash Flow Consistency
Operating cash flow and free cash flow were both $1.7 billion, consistent with Q1 2025.
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Effective Cost Management
Operating expenses increased 16%, but revenues grew faster, enhancing profitability.
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Significant Share Buybacks
Airbnb repurchased 8.1 million shares for $1.1 billion during Q1 2026.
What to watch
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Geopolitical Risks
Ongoing geopolitical tensions, particularly from the Middle East conflict, are affecting booking trends, especially in EMEA and Asia Pacific.
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Increased Tax Liabilities
Provision for income taxes surged by 537% to $121 million, primarily due to a one-time adjustment of deferred tax assets.
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Interest Rate Exposure
The company is exposed to fluctuations in interest rates due to refinancing with $2.5 billion in senior notes, potentially increasing future burdens.
Management's outlook
Management expects Q2 2026 revenue between $2.75 billion and $2.85 billion, and EPS between $0.35 and $0.40, reflecting improved demand in travel.
Earlier filings 4
10-Q · November 6, 2025
Airbnb reported Q3 revenue of $4,095 million, up $363 million (+9.7%) versus Q3 2024, with operating income of $1,625 million and diluted EPS of $2.21. Gross margin remained high at 86.6% and operating margin was 39.7%,…
10-Q · August 6, 2025
Airbnb reported Q2 revenue of $3,096 million and diluted EPS of $1.03, both above Street expectations, with gross margin of 82.4% and operating margin of 19.8%. Revenue and all geographic segments grew year-over-year;…
10-K · February 13, 2025
Airbnb positions itself as a global two‑sided marketplace focused on perfecting its core stays business, accelerating growth in less mature global markets, and expanding beyond accommodations via a multi‑year product…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.