Filing Flows › Airbnb (ABNB) › Q1 2025
Airbnb (ABNB) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Airbnb (ABNB) reported revenue of $2.3B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -8% from the quarter before. Operating margin was 1.7%, net earnings $154M (6.8% of revenue).
Airbnb, Q1 2025: revenue $2.3B (+6% year over year), operating margin 1.7%, net earnings $154M, operating cash flow $1.8B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | -8% | +6% |
| Operating profit | $38.0M | -91% | -62% |
| Net earnings | $154M | -67% | -42% |
| Operating cash flow | $1.8B | +284% | -7% |
What changed
Revenue was $2.3B in Q1 2025, up 6% year over year and down 8% from the previous quarter.
Operating profit was $0.04B, a 1.7% margin (down 3.0 points year over year). Operating profit fell $0.06B even though revenue rose $0.13B versus a year earlier, so costs grew faster than sales. Total costs grew 9% against revenue growth of 6%. The fastest-growing cost line was Research & development (+20%). Net earnings were $0.15B, down 42% year over year. The effective tax rate was 11.0%. Non-operating items added $0.14B, 78% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.8B (down 7% year over year), 1162% of net earnings. Non-cash charges added back $0.36B of share-based compensation. Working capital and other items added $1.3B.
Questions
What was Airbnb's revenue in the first quarter 2025?
Airbnb (ABNB) reported revenue of $2.3B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -8% from the quarter before.
Was Airbnb profitable in the first quarter 2025?
Operating profit was $38.0M (1.7% of revenue) and net earnings $154M.
Source: Airbnb 10-Q on SEC EDGAR.