Airbnb (NASDAQ:ABNB) reported Q2 EPS of $0.56, $0.11 better than the analyst estimate of $0.45. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.1 billion.
GUIDANCE:
Airbnb sees Q3 2022 revenue of $2.78-2.88 billion $2.77 expected.
- In Q3 2022, we anticipate the highest quarterly revenue in Airbnb history. We expect to deliver Q3 2022 revenue between $2.78 billion and $2.88 billion, representing year-over-year growth of between 24% and 29%, and a 69% to 75% increase relative to 2019. This revenue outlook includes a significant headwind from foreign exchange fluctuations relative to last year. We expect our revenue as a share of GBV to increase in Q3 2022 relative to Q2 2022, consistent with historical seasonality.
- We remain focused on delivering strong profitability through improving variable unit costs, maintaining high marketing efficiency, and managing fixed expense growth. Similar to revenue, Adjusted EBITDA is strongest in Q3 due to the seasonality of our business. We expect Q3 2022 Adjusted EBITDA to be our strongest quarterly Adjusted EBITDA yet, up meaningfully on a nominal basis from last year’s high. We expect Q3 2022 Adjusted EBITDA margin to be at or slightly below last year’s all-time high margin of 49% primarily due to the timing of expenses.
- We continue to forecast delivering Adjusted EBITDA margin expansion for the full-year 2022 relative to 2021.