Airbnb, Inc. stock research
FY2024 Q2
Airbnb (ABNB) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue rose modestly. Gross margin improved, though it remained slightly below the level reported in the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue rose modestly. Gross margin improved, though it remained slightly below the level reported in the same quarter one year earlier.
- The strongest observable margin driver was the increase in revenue outpacing the rise in cost of revenue, leading to a higher gross margin compared to the immediately preceding quarter.
- Compared to the prior quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened slightly.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
81.6%
Gross profit
$2.2B
Revenue
$2.7B
Cost of revenue
$506.0M
Quarter-over-quarter change
+4.0 pts
Year-over-year change
-1.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $3.4B | $2.9B | $459.0M | 86.5% |
| Dec 31, 2023 | $2.2B | $1.8B | $384.0M | 82.7% |
| Mar 31, 2024 | $2.1B | $1.7B | $480.0M | 77.6% |
| Jun 30, 2024 | $2.7B | $2.2B | $506.0M | 81.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+4.0 pts
Year-over-year change
Jun 30, 2023
-1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver was the increase in revenue outpacing the rise in cost of revenue, leading to a higher gross margin compared to the immediately preceding quarter.
Compared to the prior quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened slightly.
Monitor whether cost of revenue continues to increase at a faster pace relative to revenue in upcoming quarters.