Airbnb, Inc. reported its financial results for the first quarter of 2025, revealing a revenue increase of 6% to $2.3 billion compared to the same period in 2024. This growth was primarily driven by a rise in the number of check-ins related to Nights and Experiences Booked, although it was partially offset by a slight decrease in Average Daily Rate (ADR). However, net income for the quarter fell by 42% to $154 million, attributed to higher payroll-related expenses due to increased headcount and impairment losses on private company investments, alongside a decline in interest income.
The company's total costs and expenses rose by 9% to $2.2 billion, with significant increases in product development and sales and marketing expenses, which grew by 20% and 10%, respectively. The increase in product development costs was largely due to higher payroll expenses driven by a growing workforce. Additionally, the company repurchased 6.1 million shares of Class A common stock for $807 million during the quarter, leaving $2.5 billion available under its share repurchase program.
Airbnb's operational metrics showed positive trends, with Nights and Experiences Booked increasing by 8% year-over-year to 143 million, and Gross Booking Value rising by 7% to $24.5 billion. The company also reported a Free Cash Flow of $1.8 billion, slightly down from $1.9 billion in the previous year, reflecting the impact of increased operational costs. As of March 31, 2025, Airbnb held $7.6 billion in cash and cash equivalents, alongside $3.9 billion in short-term investments.
Looking ahead, Airbnb acknowledged the potential impact of macroeconomic and geopolitical conditions, including inflation and fluctuating interest rates, on its business. While these factors have not yet materially affected operations, the company remains cautious about future developments. Airbnb continues to focus on international expansion and enhancing its platform offerings, aiming to attract more hosts and guests while navigating the complexities of regulatory environments across different regions.
About Airbnb, Inc.
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