Airbnb Inc ( ABNB ) reported first-quarter financial results after the market close on Thursday. Here’s a rundown of the report.

Q1 Earnings: Airbnb’s first-quarter revenue increased 6% year-over-year to $2.27 billion, beating analyst estimates of $2.26 billion, according to Benzinga Pro.

The company reported first-quarter earnings of 24 cents per share, beating analyst estimates of 23 cents per share.

Gross booking value totaled $24.5 billion, up 7% year-over-year. Nights and Experiences booked came in at 143.1 million, up 8% year-over-year. Airbnb ( ABNB ) said it generated $1.8 billion in free cash flow during the first quarter.

The company ended the period with $11.5 billion in cash, cash equivalents, short-term investments and restricted cash, as well as $9.2 billion of funds held on behalf of guests.

“We had a strong start to 2025. In Q1, guests spent nearly $25 billion on Airbnb ( ABNB ). Our results show that no matter what's happening in the world, people continue to choose Airbnb ( ABNB ). That's because our model is inherently adaptable,” the company said in a letter to shareholders.

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What’s Next: Airbnb ( ABNB ) expects second-quarter revenue to be in the range of $2.99 billion to $3.05 billion versus estimates of $3.04 billion. The company expects year-over-year growth of Nights and Experiences booked to be “moderate” relative to the first quarter.

“In Q2 2025, we believe we are positioned to deliver strong results despite recent global economic volatility, highlighting the resilience and adaptability of our business. By offering guests a wide range of listings around the world and providing hosts economic opportunity, we believe our model can adapt to periods of consumer uncertainty,” the company said.

Airbnb ( ABNB ) also teased a “big” announcement coming on May 13. The company said it plans to unveil plans to “go beyond places to stay.”

ABNB Price Action: Airbnb ( ABNB ) shares were down 5.65% in the after-hours session, trading at $117 at the time of publication Thursday, according to Benzinga Pro.

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