What caused Airbnb's income tax expense spike in Q2 2024?

Airbnb's income tax expense spike in Q2 2024 can be attributed to **increased revenue and profitability**, which in turn led to higher taxable income. Here's a detailed analysis: 1. **Revenue Growth**: Airbnb's revenue has been growing steadily, primarily driven by increased bookings and higher average daily rates. This growth directly impacts the company's taxable income, as a larger portion of revenue is now subject to taxation. 2. **Profitability**: The company's profitability has also been improving, with a net profit margin of 23.1% in Q2 2024, up from 14.6% in the same period last year. Higher profitability means a larger tax base, leading to increased income tax expenses. 3. **Tax Obligations**: As Airbnb generates more profit, it incurs higher tax obligations, including income taxes. The company's income tax expense of $126 million in Q2 2024 reflects the tax implications of its increased profitability and revenue. In summary, Airbnb's income tax expense spike in Q2 2024 is a result of the company's growing revenue, increasing profitability, and the consequent higher taxable income.