Airbnb (ABNB) FY2024 results: revenue $11.1 billion, up 11.9% on the year

Airbnb, Inc. (ABNB) reported revenue of $11.1 billion for fiscal 2024, the year ended 31 December 2024, up 11.9% on the year before. Net income was $2.6 billion, down 44.7%, and diluted earnings per share $4.11. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.

Revenue

$11.1 billion

+11.9% on the year

FY2019FY2024

Operating margin

23.0%

15.3% a year earlier

FY2019FY2024

Net income

$2.6 billion

-44.7% on the year

FY2019FY2024

Diluted EPS

$4.11

-43.2% on the year

FY2019FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	11,102	9,917	8,399	+11.9%
Cost of revenue	1,878	1,703	1,499	+10.3%
Gross profit	9,224	8,214	6,900	+12.3%
Gross margin	83.1%	82.8%	82.2%
Research and development	2,056	1,722	1,502	+19.4%
Operating income	2,553	1,518	1,802	+68.2%
Operating margin	23.0%	15.3%	21.5%
Pre-tax income	3,331	2,102	1,989	+58.5%
Income tax	683	-2,690	96.0
Effective tax rate	20.5%	-128.0%	4.8%
Net income	2,648	4,792	1,893	-44.7%
Net margin	23.9%	48.3%	22.5%
Diluted EPS	$4.11	$7.24	$2.79	-43.2%

$ million except per share.

Free 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	4,518	3,884	3,430	+16.3%
Capital expenditure	n/a	n/a	25.0
Free cash flow	n/a	n/a	3,405
Free cash flow margin	n/a	n/a	40.5%
Cash from investing	-616	-1,042	-28.0
Cash from financing	-3,572	-2,430	-689
Depreciation and amortisation	n/a	31.0	42.6
Share-based compensation	1,407	1,120	930	+25.6%
Buybacks	3,430	2,252	1,500	+52.3%
Diluted shares, weighted	645m	662m	680m	-2.6%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	8,412	8,165	5,560	+3.0%
Redeemable equity	n/a	n/a	0.0
Debt	1,995	1,991	1,987	+0.2%
Operating lease liabilities	236	252	295	-6.3%
Other liabilities	10,316	10,237	8,196	+0.8%
Total liabilities and equity	20,959	20,645	16,038	+1.5%
Fixed assets	147	160	121	-8.1%
Goodwill	750	752	650	-0.3%
Intangible assets	27.0	40.0	34.0	-32.5%
Investments	3,747	3,197	2,244	+17.2%
Cash and equivalents	6,864	6,874	7,378	-0.1%
Other assets	9,424	9,622	5,611	-2.1%
Total assets	20,959	20,645	16,038	+1.5%

10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.