Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Airbnb Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial performance exhibits a consistent pattern of strong seasonal volatility coupled with a sustained upward trajectory in top-line growth. Revenue peaks occur reliably every third quarter, reflecting a cyclical demand cycle, while year-over-year comparisons demonstrate steady expansion across all corresponding quarters.
- Revenue and Gross Profitability
- A significant upward trend in revenue is observed, with quarterly peaks increasing from 2,237 million in September 2021 to 4,095 million in September 2025. Gross profit margins remain robust as the cost of revenue increases at a considerably slower pace than total revenue. This divergence indicates high scalability and strong pricing power, as the incremental cost of serving additional revenue has remained relatively contained.
- Operating Expense Analysis
- Operating expenses show a general increase in absolute terms, aligned with the company's growth. Product development and sales and marketing costs have risen steadily over the period. A notable anomaly is observed in General and Administrative expenses during the quarter ending December 31, 2023, where costs spiked to 1,203 million, deviating sharply from the historical range of 190 million to 411 million. Outside of this event, operating expenses have scaled linearly with revenue growth.
- Operational Efficiency and Income
- Income from operations mirrors the seasonality of revenue, typically reaching its zenith in the third quarter of each year. Operational profitability has transitioned from early losses in 2021 to more consistent positive results. The operating income for the September quarters has grown from 852 million in 2021 to 1,625 million in 2025, signaling an improvement in the underlying business model's efficiency.
- Net Income and Non-Operating Factors
- Net income is characterized by high volatility due to non-operating items. A significant outlier occurred on September 30, 2023, where net income reached 4,374 million, primarily driven by a substantial tax benefit of 2,695 million. Additionally, there is a marked increase in interest income, rising from 3 million per quarter in early 2021 to levels frequently exceeding 180 million in later periods, suggesting a significant accumulation of cash reserves and a shift in the contribution of non-operating income to the bottom line.
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