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Airbnb

ABNB Q1 2026 Earnings

Reported May 7, 2026 at 4:00 PM ET · SEC Source

Q1 26 EPS

$0.26

MISS 14.13%

Est. $0.30

Q1 26 Revenue

$2.68B

BEAT +2.27%

Est. $2.62B

vs S&P Since Q1 26

-6.1%

TRAILING MARKET

ABNB -5.5% vs S&P +0.6%

Market Reaction

Did ABNB Beat Earnings? Q1 2026 Results

Airbnb posted a mixed first quarter for fiscal 2026, delivering a revenue beat alongside an earnings miss that underscored the tension between growth investment and near-term profitability. Revenue of $2.68 billion rose 17.9% year-over-year, clearing… Read more Airbnb posted a mixed first quarter for fiscal 2026, delivering a revenue beat alongside an earnings miss that underscored the tension between growth investment and near-term profitability. Revenue of $2.68 billion rose 17.9% year-over-year, clearing the consensus estimate of $2.62 billion by 2.27%, as nights booked climbed 9% to 156.2 million and average daily rates expanded 9% to $187 on FX tailwinds and firm North American pricing. Earnings per share, however, came in at $0.26, falling 14.13% short of the $0.30 consensus, weighed down by a $70.00 million tax charge tied to the U.S. Corporate Alternative Minimum Tax and stepped-up sales and marketing spending. Adjusted EBITDA grew 24% to $519.00 million, with margin expanding to 19%, offering investors a cleaner read on operating momentum. Management responded with raised full-year guidance, now calling for low-to-mid-teens revenue growth and Adjusted EBITDA margin of at least 35%, while guiding Q2 revenue to $3.54 billion to $3.60 billion, a 14% to 16% increase year-over-year, with analysts broadly maintaining a constructive view on the company's free cash flow generation.

Key Takeaways

  • • Revenue grew 18% Y/Y to $2.7 billion, exceeding high end of guidance
  • • Nights booked on app grew 22% Y/Y, now 63% of total nights booked (up from 58%)
  • • First-time booker growth accelerated to 10%, highest since early 2022
  • • ADR increased 9% Y/Y to $187, aided by FX tailwinds and strong North American pricing
  • • Reserve Now, Pay Later accounted for roughly 20% of global GBV
  • • Guest travel insurance revenue increased 45% Y/Y
  • • Cost-per-booking decreased approximately 10% Y/Y driven by AI customer support
  • • Adjusted EBITDA grew 24% Y/Y to $519 million

ABNB Forward Guidance & Outlook

Airbnb raised its full-year 2026 guidance, now expecting revenue growth to accelerate to low-to-mid teens year-over-year (previously unspecified acceleration target) with Adjusted EBITDA Margin of at least 35%. For Q2 2026, the company expects revenue of $3.54 billion to $3.60 billion (14%-16% Y/Y growth), inclusive of an approximately 3% FX tailwind. Q2 GBV is expected to increase in the low double digits Y/Y, with Nights and Seats Booked growth slightly decelerating from Q1, assuming a roughly 100bps headwind from the Middle East conflict. Adjusted EBITDA and Adjusted EBITDA Margin are expected to be up Y/Y in Q2. The company expects its full-year effective tax rate to be in the high teens. The upward revision reflects momentum in core business (particularly North America and Latin America), sustained ADR growth, and improvements to monetization through a simplified fee structure and insurance programs expected to lift the full-year take rate.

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ABNB YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

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