Airbnb Logs Mixed 4Q Amid Ambitious Investment Plans

By Katherine Hamilton

Airbnb posted higher fourth-quarter revenue but lower profit, as investments in new business drive up expenses.

The vacation rental company on Thursday posted a profit of $341 million, or 56 cents a share, in the quarter ended Dec. 31, down from $461 million, or 73 cents a share, a year earlier.

Analysts forecast 67 cents a share, according to FactSet.

The decline in earnings was due to planned investments in new growth and policy initiatives, as well as a $90 million charge related to non-income tax matters.

Total costs and expenses increased 22% from the year before. Airbnb is investing in its new Experiences product and aiming to expand its presence in more geographical markets.

The company said at the start of 2025 it would invest up to $250 million in launching and scaling new businesses that year. Along with Experiences, Airbnb has started partnering with boutique hotels in certain cities and is aiming to bring more hotels onto its platform.

Fourth-quarter revenue rose 12% to $2.78 billion. Analysts polled by FactSet expected $2.71 billion.

Sales growth was primarily driven by an increase in nights stayed and a moderate rise in average daily rate. Gross booking value climbed 16% to $20.4 billion, ahead of the $19.4 billion analysts predicted.

North America was the slowest growing geographic market in terms of nights and seats booked. Latin America was the fastest growing, followed by Asia Pacific and Europe, the Middle East and Africa.

For the first quarter, Airbnb anticipates revenue of $2.59 billion to $2.63 billion, compared with the $2.53 billion Wall Street was projecting.

Full-year revenue is expected to increase to at least a low-double-digit percentage, Airbnb said. Wall Street is guiding for 10% revenue growth.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

February 12, 2026 16:18 ET (21:18 GMT)