2024-02-13 21:13:06 ET
Airbnb, Inc. (ABNB)
Q4 2023 Earnings Conference Call
February 13, 2024, 04:30 PM ET
Company Participants
Angela Yang - Director, Investor Relations
Brian Chesky - Co-Founder & Chief Executive Officer
David Stephenson - Chief Financial Officer
Ellie Mertz - Vice President, Finance & Investor Relations
Conference Call Participants
Ron Josey - Citi
Eric Sheridan - Goldman Sachs
Justin Patterson - KeyBanc
Brian Nowak - Morgan Stanley
Doug Anmuth - JPMorgan
Justin Post - Bank of America
Kevin Kopelman - TD Cowen
Lee Horowitz - Deutsche Bank
Jed Kelly - Oppenheimer
Nick Jones - JMP Securities
James Lee - Mizuho
Bernie McTernan - Needham & Company
John Cantone - Jefferies
Ken Gawrelski - Wells Fargo
Mark Mahaney - Evercore ISI
Alex Brignall - Redburn Atlantic
Presentation
Operator
Good afternoon, and thank you for joining Airbnb's Earnings Conference Call for the Fourth Quarter of 2023. As a reminder, this conference call is being recorded and will be available for replay from the Investor Relations section of Airbnb's website following this call.
I will now hand the call over to Angela Yang, Director of Investor Relations. Please go ahead.
Angela Yang
Good afternoon, and welcome to Airbnb's fourth quarter of 2023 earnings call. Thank you for joining us today. On the call today, we have Airbnb Co-Founder and CEO, Brian Chesky and our Chief Financial Officer, Dave Stephenson. Earlier today, we issued a shareholder letter with our financial results and commentary for our fourth quarter of 2023. These items were also posted on the Investor Relations section of Airbnb's website. During the call, we'll make brief opening remarks and then spend the remainder of time on Q&A.
Before I turn it over to Brian, I would like to remind everyone that we will be making forward-looking statements on this call that involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described under forward-looking statements in our shareholder letter and in our most recent filings with the Securities and Exchange Commission. We urge you to consider these factors and remind you that we undertake no obligation to update the information contained on this call to reflect subsequent events or circumstances. You should be aware that these statements should be considered estimates only and are not a guarantee of future performance.
Also, during this call, we will discuss some non-GAAP financial measures. We provide a reconciliation to the most directly comparable GAAP financial measures in the shareholder letter posted to our Investor Relations website. These non-GAAP measures are not intended to be a substitute for our GAAP results.
With that, I will pass the call to Brian.
Brian Chesky
All right. Thank you, and good afternoon, everyone. Thanks for joining. I am excited to share our results with you. We wrapped 2023 with another strong quarter. We had 99 million Nights and Experiences Booked in Q4, marking our highest fourth quarter ever.
Revenue of $2.2 billion grew 70% year-over-year. Net loss was $249 million. But when excluding nonrecurring tax items, adjusted net income was $489 million, representing an adjusted net income margin of 22%.
For the full year, our free cash flow was $3.8 billion, our highest ever. Because of our strong cash flow and balance sheet, we repurchased $2.25 billion of our shares during 2023. And I'm excited to announce that today, our Board of Directors approved a new share repurchase authorization of up to $6 billion of our Class A common stock....
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Airbnb, Inc. (ABNB) Q4 2023 Earnings Call Transcript