Sector: Consumer Discretionary|Industry: Travel Services|Market Cap: $79.68B|Employees: 6.9K
Airbnb, Inc. operates a global platform connecting hosts offering unique accommodations and experiences with guests seeking travel options. The company's core business model revolves around facilitating these transactions, earning revenue through service fees. Airbnb's competitive advantage lies in its diverse inventory, global reach, and community-driven platform, serving key markets worldwide.
Revenue increased by 6% YoY to $2.3 billion, primarily driven by an increase in Nights and Experiences Booked. This represents a slowdown in growth compared to previous periods, suggesting potential headwinds.
Net income decreased by 42% to $154 million, primarily due to higher payroll-related expenses from increased headcount and impairment losses on private company investments. This indicates potential challenges in managing costs and investments.
Free cash flow was $1.8 billion, driven by net cash provided by operating activities. This demonstrates the company's ability to generate cash from its operations, providing flexibility for investments and capital allocation.