Earnings Report: Zillow and Airbnb Post Revenue Gains

Earnings report season is here. Zillow and Airbnb both released new numbers, highlighting strong fourth quarter results amid an otherwise tough year. Zillow earned $474 million in revenue between October-December 2023, marking a 9 percent increase compared to one year earlier. Full-year revenue was $1.9 billion, down 1 percent year-over-year.

Residential revenue was up 3 percent annually in Q4 to $349 million. Rentals revenue of $93 million increased 37 percent year-over-year, primarily driven by multifamily revenue growing 52 percent annually in Q4.

Net loss was $73 million in Q4—or 15 percent of revenue—compared to $72 million in Q4 2022.

Over at Airbnb, the number of nights and experiences booked totaled 99 million, growing 12 percent year-over-year, and marking the company’s highest fourth quarter ever. Revenue of $2.2 billion grew 17 percent year-over-year.

Q4 net loss was $349 million for Airbnb as a result of one-time tax expenses that cost over $1 billion, per company notes.

Airbnb notes that growth was in part driven by its international expansion strategy, investing in brand awareness and consideration in less mature markets.