Airbnb Q4 Revenue Jumps 12% to $2.78B, EPS Misses by 15%
Airbnb’s Q4 adjusted EPS of $0.56 fell 15% short of estimates while revenue rose 12% to $2.78 billion, beating forecasts by 2%. Gross Booking Value climbed 16% to $20.4 billion as Nights booked grew almost 10% and ADR rose 6%, though take rate dipped to 13.6%.
1. Financial Results
Airbnb reported Q4 adjusted earnings per share of $0.56, missing consensus by 14.9% and down from $0.73 a year earlier. Revenue climbed 12% year-over-year to $2.78 billion, outperforming estimates by 2%, driving a near 4% rebound in share price.
2. Operating Metrics
Gross Booking Value reached $20.4 billion, up 16% reported (13% forex-neutral), supported by a 9.8% increase in Nights and Seats Booked and a 6% rise in ADR to $168. The take rate contracted to 13.6% from 14.1% as platform mix shifted and competitive pricing intensified.
3. Cash Flow and Buybacks
As of December 31, cash, equivalents and restricted cash stood at $11 billion, down from $11.68 billion at September 30. Q4 free cash flow was $521 million, and the company repurchased $1.1 billion of shares, with $5.6 billion remaining under authorization.
4. First-Quarter Guidance
For Q1 2026, Airbnb projects revenue of $2.59 billion to $2.63 billion, implying 14%–16% year-over-year growth. Gross Booking Value is expected to rise in the low teens, with adjusted EBITDA roughly flat versus the prior year.