Airbnb raises 2026 forecast; shares jump 10.9% after hours

Airbnb (ABNB) raised its full-year 2026 outlook for revenue growth and Adjusted EBITDA Margin. Third-quarter revenue of $4.87 billion was in line with the $4.84 billion consensus.

Shares rose 10.9% after hours at 5:07 p.m. ET, from a $169.68 close.

Nights and Seats Booked rose 16% to 155.0 million, and gross booking value grew 21% to $27.7 billion. Revenue grew 19%.

Here's how the company did:

• Revenue: $4.87 billion vs. $4.10 billion a year earlier
• Net income: $1.89 billion vs. $1.37 billion a year earlier
• Diluted EPS: $3.16 vs. $2.21 a year earlier
• Adjusted EBITDA: $2.51 billion vs. $2.05 billion a year earlier
• Free cash flow: $1.43 billion vs. $1.35 billion a year earlier

Adjusted EBITDA rose 22%. Its margin was 52%, compared with 50% a year earlier.

2026 guidance

For the fourth quarter, the company expects revenue of $3.22 billion to $3.28 billion, growth of 16% to 18%. That range includes about a two-point currency tailwind after hedging.

The company expects Adjusted EBITDA to rise from a year earlier, with its margin down slightly, partly due to the timing of marketing spend.

For the full year, the company now expects revenue growth in the high teens. It expects Adjusted EBITDA Margin of about 36%, reflecting year-over-year margin expansion.

Regional growth

North America delivered low-double-digit growth in Nights and Seats Booked, the highest growth in four years. EMEA posted mid-teens growth, and Latin America and Asia Pacific each grew over 20%.

Airbnb launched an exclusive partnership with American Express on Oct. 22 that brings more than one million listings to Amex Travel.

Costs and cash returns

Customer support cost per booking fell more than 17% year-over-year, driven in large part by improvements to the AI assistant. About 40% of customer support issues were resolved without a human agent in Q3, up from a third in Q2.

Net income also benefited from a $135 million lower provision for income taxes, as the prior year included a $213 million valuation allowance against deferred tax assets.

The company repurchased $0.7 billion of Class A stock in the quarter, with $2.7 billion left under prior authorization as of Sept. 30. It announced a new program to buy up to an additional $12 billion.