Airbnb Q3 Revenue Rises 19% to $4.87 Billion and Board Approves $12 Billion Buyback

Airbnb reported third-quarter revenue of $4,869 million on 5 November 2026, up 19% from $4,095 million a year earlier. Nights and seats booked rose 16% to 155.0 million, and gross booking value reached $27.7 billion.

The company raised its full-year revenue guidance and said its board has approved a new share repurchase programme of up to $12 billion. Airbnb’s chief executive, Brian Chesky, said on the earnings call that “Airbnb is back in growth mode.”

What the Quarter Showed

Revenue grew 19% in the quarter ended 30 September, or 16% excluding currency effects. Net income was $1,890 million, a 39% margin, compared with $1,374 million in the third quarter of 2025. Diluted earnings per share were $3.16.

Adjusted EBITDA was $2,509 million, up 22%, at a 52% margin. Free cash flow was $1,426 million for the quarter and $4,904 million over the trailing twelve months.

The average daily rate was $179, up 4% from a year earlier, or 5% excluding currency. The company’s filing shows an implied take rate of 17.6%, down from the prior year.

Net income was helped by lower taxes. Airbnb’s quarterly filing shows an income tax provision of $283 million, against $418 million a year earlier. Chief financial officer Ellie Mertz said on the call that a $135 million reduction in the provision contributed, and that the prior-year quarter included a $213 million valuation allowance, which affects the comparison.

Buyback at a Glance
Airbnb’s board approved a new repurchase programme of up to $12 billion, after the company bought back $0.7 billion of stock in the third quarter and had $2.7 billion of authorisation remaining.

Where Travellers Are Booking

Every region posted double-digit growth in nights booked, according to the call. Mertz put growth at low double digits in North America, mid-teens in Europe, the Middle East and Africa, and above 20% in both Latin America and Asia-Pacific. North America grew at its fastest pace in four years, according to the call.

App bookings rose 29% and made up 66% of nights booked. Growth in first-time bookers was 13%, which the company described as the highest since early 2022.

Mertz said the 16% growth in nights included about 3 points from Reserve Now, Pay Later, a flexible payment option. Excluding it, growth was roughly 13%, which she said was still faster than in the second quarter. She described the third quarter as the expected peak for the product’s net effect on nights, with the contribution set to decline sequentially in the fourth quarter.

Hotels, Services and New Products

Chesky said Airbnb now lists thousands of boutique and independent hotels across more than 60 top destinations, and that hotel bookings accelerated again in Q3. The company said about 35% of guests whose first booking was a hotel went on to book a home within a year.

Car rentals, launched this summer, have become one of Airbnb’s most popular services, according to the shareholder letter. Other additions include meal delivery, laundry and baby gear. Chesky said a custom travel agent built on artificial intelligence will reach guests in the first half of 2027, and the shareholder letter said Airbnb is planning to expand neighbourhood pages to 1,500 neighbourhoods by the end of the year.

The company said it shipped more than 50 products and features in the quarter, nearly 70% more than a year earlier.

Every region posted double-digit growth in nights booked, and North America grew at its fastest pace in four years.

Outlook, Buyback and Open Questions

For the fourth quarter, Airbnb guided to revenue of $3.22 billion to $3.28 billion, up 16% to 18%, including about a 2-point currency tailwind. It expects gross booking value to grow in the mid-teens and adjusted EBITDA to rise, with the margin slightly lower than a year earlier.

For the full year, it now expects revenue growth in the high teens, up from at least mid-teens, and an adjusted EBITDA margin of about 36%, up from at least 35.5%.

The company repurchased $0.7 billion of Class A stock in the quarter and had $2.7 billion of authorisation left at 30 September. The new programme of up to $12 billion is on top of that existing authorisation. Airbnb also entered a five-year, $1.0 billion unsecured revolving credit facility on 30 October.

Mertz flagged that “cancellation rates in aggregate are up 200 to 300 basis points from a year ago,” which she tied to flexible payment adoption and longer booking lead times.

The filing also notes a continuing dispute with Spain’s Ministry of Consumer Affairs, which proposed a fine that was later reduced to about €65 million. Airbnb contests it, and entered into an agreement in May 2026 to obtain a €70 million surety bond to suspend enforcement of the fine while the matter is in court.