Airbnb Q3 2025 earnings: revenue climbs to $4.1B on record quarterly profit
Airbnb's Q3 2025 revenue rose about 10% to $4.1 billion as bookings and spending climbed, with the company posting its highest-ever quarterly profit.
| Q3 2025 | Reported |
|---|---|
| EPS | — |
| Revenue | $4.09B |
Figures as reported by the company to the SEC for the quarter ended September 30, 2025. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Airbnb reported third-quarter revenue of about $4.1 billion, up roughly 10% from the same quarter a year earlier and at the high end of the range the company had guided investors to expect.
- Guests booked 133.6 million nights and experience seats during the quarter, up 9% year over year, while total spending on the platform (gross booking value) rose 14% to $22.9 billion — a sign travelers are both booking more trips and spending more per trip.
- Adjusted EBITDA, a profitability measure that strips out certain non-cash and one-time items, topped $2 billion for the first time in company history for a single quarter.
- Quarterly net income was about $1.4 billion, a roughly 34% profit margin — a reflection of Airbnb’s asset-light model, since it doesn’t own the homes listed on its site and keeps a large share of each booking dollar after covering costs.
- Over the trailing twelve months, gross margin topped 72% and net profit margin was near 20%, underscoring that the core marketplace stays highly profitable even as the company invests in new features and international expansion.
- For the fourth quarter, Airbnb guided to revenue of $2.66 billion to $2.72 billion, implying 7% to 10% year-over-year growth, with nights and seats booked expected to grow at a slower, mid-single-digit pace than in the third quarter.
- Management cited a pickup in U.S. demand from the second to third quarter, aided by the rollout of a new ‘Reserve Now, Pay Later’ option that lets travelers book a stay without paying the full amount upfront.
- The company also pointed to momentum in its non-lodging Experiences business — tours, classes and activities — noting that nearly half of those bookings came from customers who weren’t also booking a place to stay.
- For the full 2025 year, Airbnb said it expects an adjusted EBITDA profit margin of approximately 35%, signaling management’s continued emphasis on profitability alongside growth.
Q3 2025 in context
| Metric | Sep 2025 | Sep 2024 | Change |
|---|---|---|---|
| Revenue | $4.1B | $3.7B | +9.7% |
| Net income | $1.4B | $1.4B | +0.4% |
| Gross margin | 86.6% | 87.5% | -0.9 pts |
| Operating margin | 39.7% | 40.9% | -1.2 pts |
| Net margin | 33.6% | 36.7% | -3.1 pts |
Figures for the quarter ended Sep 2025 and the quarter ended Sep 2024, as reported to the SEC.
How the stock took it
Airbnb Inc closed at $122.50 on Nov 5, 2025, the last session before the report, and at $120.88 on Nov 7, 2025, the first session after it — -1.3% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Sources: company report · earnings call · PhocusWire