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Airbnb (ABNB) FY2023 results: revenue $9.9 billion, up 18.1% on the year

Airbnb, Inc. (ABNB) reported revenue of $9.9 billion for fiscal 2023, the year ended 31 December 2023, up 18.1% on the year before. Net income was $4.8 billion, up 153.1%, and diluted earnings per share $7.24. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.

Revenue
$9.9 billion
+18.1% on the year
FY2019FY2023
Operating margin
15.3%
21.5% a year earlier
FY2019FY2023
Net income
$4.8 billion
+153.1% on the year
FY2019FY2023
Diluted EPS
$7.24
+159.5% on the year
FY2019FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ millionFY2023FY2022FY2021On the yearLast 8 years
Revenue9,9178,3995,992+18.1%
Cost of revenue1,7031,4991,156+13.6%
Gross profit8,2146,9004,836+19.0%
Gross margin82.8%82.2%80.7%
Research and development1,7221,5021,425+14.6%
Operating income1,5181,802429-15.8%
Operating margin15.3%21.5%7.2%
Pre-tax income2,1021,989-300+5.7%
Income tax-2,69096.052.0
Effective tax rate-128.0%4.8%n/a
Net income4,7921,893-352+153.1%
Net margin48.3%22.5%-5.9%
Diluted EPS$7.24$2.79-$0.57+159.5%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2023FY2022FY2021On the yearLast 8 years
Operating cash flow3,8843,4302,313+13.2%
Capital expendituren/a25.025.0
Free cash flown/a3,4052,288
Free cash flow marginn/a40.5%38.2%
Cash from investing-1,042-28.0-1,352
Cash from financing-2,430-6891,308
Depreciation and amortisation31.042.685.6-27.2%
Share-based compensation1,120930899+20.4%
Buybacks2,2521,5000.0+50.1%
Diluted shares, weighted662m680m616m-2.6%

Balance sheet

$ millionFY2023FY2022FY2021On the yearLast 8 years
Shareholders' equity8,1655,5604,776+46.9%
Redeemable equityn/a0.00.0
Debt1,9911,9872,000+0.2%
Operating lease liabilities252295372-14.6%
Other liabilities10,2378,1966,560+24.9%
Total liabilities and equity20,64516,03813,708+28.7%
Fixed assets160121157+32.2%
Goodwill752650653+15.7%
Intangible assets40.034.052.0+17.6%
Investments3,1972,2442,255+42.5%
Cash and equivalents6,8747,3786,067-6.8%
Other assets9,6225,6114,524+71.5%
Total assets20,64516,03813,708+28.7%

10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.