Airbnb Inc (ABNB) - Stock report

Airbnb Inc. runs a global marketplace that connects travelers with places to stay and, increasingly, with experiences and services, across more than 220 countries and regions. It owns no homes or hotels. Hosts supply the listings, guests pay to book them, and Airbnb takes a fee that it records as revenue when a guest checks in. Because it carries no property, the model is light on assets and turns booking demand into cash quickly. Stays are still the heart of the business, while experiences, services, and hotels are newer ways to give guests more reasons to book on the same platform.

In the second quarter of fiscal 2026, booking value rose 16% to $27.2 billion while revenue rose 17% to $3.6 billion. That means revenue slightly outpaced booking growth in the quarter. The next test is whether that relationship persists over time.

The cost of handling customer support for each booking fell roughly 16% from a year earlier as automated tools resolved more issues without human agents. If that continues, profit and cash can keep improving even when revenue is not growing any faster.