Management remarks
Call period: 2026 Q2 · 2026-08-06
Guidance: Ellie Mertz: Specifically, in Q3, we expect to generate revenue of $4.69 billion-$4.77 billion, representing year-over-year growth of 15%-17%. This includes an approximate three percentage point foreign exchange tailwind after factoring in our hedging program.Demand and orders: Ellie Mertz: Gross booking value grew 16% year-over-year to $27.2 billion, driven by strong growth in both nights and seats booked and ADR. ADR increased 5% year-over-year, or 4% excluding the impact of FX, with noticeable strength in North America and Europe.Margins: Ellie Mertz: In terms of profitability, our net income was $816 million, while adjusted EBITDA was $1.3 billion, representing an adjusted EBITDA margin of 35%.Analyst Q&A
Analyst John Colantuoni asked: With AI helping drive faster velocity of innovations, I was hoping to get your perspective on how this transition to AI native could impact your product costs and if there are any operational adjustments you're making to help minimize the impact. Thanks. It won't affect us that much. Let's back up for a second. ChatGPT launched three and a half years ago, I think. Almost four years ago. Is it almost four years ago? Management Brian Chesky answered: The great thing about Airbnb is two points. Number one, we do not need to make any major capital investments. We are not buying up a whole bunch of GPUs. Second, the inference costs of Airbnb are de minimis relative to the ROI of our business model. Right? We're not in the business of information where we're trying to monetize. Our transactions are very high-dollar transactions, if AI can just increase our conversion rate just a little bit, the inference cost is so outweighed by the amount of money we make on that increased ROI.管理层陈述
电话会期间：2026 Q2 · 2026-08-06
指引：埃莉·默茨表示：具体而言，我们预计第三季度营收为46.9亿至47.7亿美元，同比增长15%至17%。考虑对冲计划后，这将带来约3个百分点的外汇顺风。需求与订单：埃莉·默茨表示：总预订价值同比增长16%至272亿美元，得益于间夜量、预订座位数和每日房价的强劲增长。每日房价同比增长5%，扣除外汇影响后为4%，北美和欧洲市场表现显著强劲。利润率：埃莉·默茨表示：在盈利能力方面，我们的净利润为8.16亿美元，调整后EBITDA为13亿美元，调整后EBITDA利润率为35%。分析师问答
分析师约翰·科兰托诺尼提问：AI推动创新加速，原生AI转型会如何影响产品成本，有无运营调整降低影响？谢谢。这对我们影响不大。ChatGPT三年半前推出，快四年了。 管理层布莱恩·切斯基回应：Airbnb无需重大资本投资，不采购大量GPU；推理成本远低于业务ROI，即便小幅提升转化率也能覆盖成本。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
