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Despite a slowdown in the U.S. and economic uncertainty across the world, Airbnb continued its profitability and growth streaks as the company earned $154 million in profit from $2.3 billion in total revenue generated from charges to both travelers and hosts who run the platform.

Gross booking volume — the total amount that travelers spend on reservations on Airbnb — was $24.5 billion in the quarter. Both gross booking volume and profit were up 7 percent compared to a year earlier.

The company used its results to proclaim that Airbnb was stable amid economic calamity.

“Our results show that no matter what’s happening in the world, people continue to choose Airbnb,” the company said. “That’s because our model is inherently adaptable.”

The company said its strength came from its broad scope of offerings, with millions of homes for rent in various price points and in regions across the world.

“And for hosts, Airbnb remains an incredible way to earn extra income,” the company said. “As the world changes, we’ll continue to adapt.”

The company noted that travel demand was stronger internationally, and that it had softened in the U.S. amid broader economic uncertainties.

The earnings were slightly better than the company expected when it reported its fourth quarter earnings in February, at which time it told investors it expected to generate between $2.23 billion and $2.27 billion in the first quarter of this year.

The company reported having $11.5 billion in cash and cash equivalents on hand at the end of the first quarter. It has been using some of that cash to repurchase shares.

The company’s implied take rate, or the amount of revenue it earns from bookings, was 9.3 percent per booking in the quarter, the same as it was in the first quarter of 2024. 

The average cost to book an Airbnb listing was $171 in the quarter. That’s about 7 percent higher than it was four years ago, but down about 1 percent compared to a year earlier.

Coming changes

Airbnb CEO Brian Chesky has been hinting at major updates the company will make that will be announced at its annual summer release on May 13. 

The company is keeping those details secret until the release, but Chesky has often suggested that Airbnb planned to expand beyond its core business of booking night stays and experiences.

He has likened the coming changes to Amazon’s origins as a discount bookseller before it expanded into a global retail, shipping and data powerhouse.

Airbnb said that it had completely rebuilt its app on a new technology stack to support the anticipated updates, suggesting the changes will go beyond a focus on booked experiences or nights stayed. 

“On May 13,” the company said in its letter, “Airbnb will go beyond places to stay.” 

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Inventory is up. Rates are down. Fewer buyers face multiple offer situations. 

By several key metrics, the mid-Atlantic region is still a seller’s market. But signs suggest conditions are gradually changing in favor of homebuyers, according to a survey of thousands of Bright MLS members released Wednesday.

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“While it’s not officially a buyer’s market yet, the pendulum is clearly swinging away from the intensely competitive conditions of recent years,” said Bright MLS Chief Economist Lisa Sturtevant in a statement. “Buyers are seeing more options and facing fewer obstacles compared to this time last year.”

Homebuyers are starting to gain the upper hand in the region, comprised of Delaware, Virginia, West Virginia, Washington DC, Pennsylvania and New Jersey.

For the week ending April 27, new listings were up 12.2 percent in Bright’s 6-state market compared to a year ago. The number of active listings rose 31.8 percent compared to a year earlier, the highest level in more than three years, according to responses from approximately 3,000 BrightMLS members in the first quarter.

Nine percent of active listings had a price decrease, which was up a percentage point from a year before, according to BrightMLS data. 

The number of buyers in the first quarter who spent less than a month searching for a home was twice as high as it was a year ago, with 40 percent of homebuyers landing a home in less than 30 days.

Half of all buyers made just one offer, with odds slightly favoring repeat buyers over first-timers.

“The housing market in 2025 feels different — less frenzied and more balanced,” Sturtevant said. “If these trends continue, we could see the most buyer-friendly conditions in years this spring.”

BrightMLS members reported fewer buyers halting their searches as a result of high mortgage rates, the latest indication that consumers have grown accustomed to rates above 6 percent.

BrightMLS agents indicated they were still optimistic that buyer activity would pick up in the months ahead. The Buyer Index Activity was 60.1 in the first quarter, indicating high optimism. That was down slightly from April 2024, when the index was near a record high of 68.1, Bright said.

Meanwhile, the Seller Activity Index was at 47.2 in April, up from 35.4 a year ago.

“Sellers aren’t as aggressive as last year, but they’re also not giving away major concessions,” Sturtevant said. “Closing cost help and repair credits are still less common than buyers might hope for.”

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Bigger. Better. Bolder. Inman Connect is heading to San Diego. Join thousands of real estate pros, connect with the Inman Community and gain insights from hundreds of leading minds shaping the industry. If you’re ready to grow your business and invest in yourself, this is where you need to be. Go BIG in San Diego!

Airbnb earned a win in a spat with its much smaller short-term rental rival Vrbo on Tuesday when the National Advertising Division recommended Vrbo stop or change some of its advertising claims that seem to poke at Airbnb.

The BBB National Programs’ National Advertising Division found that Vrbo was making claims in advertising that conveyed “the unsupported message that Airbnb properties always have hosts that cohabitate with guests during their stay.”

The win highlighted the companies’ focus on marketing techniques to win traveler attention from competing short-term rental companies and the broader hotel industry.

The complaint is what is known as a “Fast-Track SWIFT” challenge, or one that is made to the BBB National Programs, an independent nonprofit organization that monitors disputes among companies.

Airbnb’s challenge highlighted a Vrbo Super Bowl commercial that featured former college and professional football coach Nick Saban, along with two billboard ads.