Summary by Moomoo AI
Airbnb, Inc. reported a robust financial performance for the first quarter of 2024, with significant year-on-year growth. The company's revenue increased by 18% to $2.1 billion, driven by a 9.5% rise in Nights and Experiences Booked and a 12% increase in Gross Booking Value (GBV) to $22.9 billion. Net income saw a substantial increase of 126% to $264 million, reflecting strong travel demand and disciplined cost management. Adjusted EBITDA also rose by 62% to $424 million, indicating the company's operational efficiency. Airbnb completed a share repurchase program, buying back 4.7 million shares for $750 million, and announced a new program with $6.0 billion available for future repurchases. The company's cash flow remained strong, with net cash provided by operating activities reaching $1.9 billion, up from $1.6 billion in the previous...Show More