What drove Airbnb's gross profit growth in Q3 2024?

Airbnb's gross profit growth in Q3 2024 was primarily driven by a significant increase in total revenue, which reached $3.73 billion for the quarter. This growth in revenue, coupled with relatively stable operating expenses, resulted in a substantial gross margin of 83.17% for the company. 1. **Revenue Growth**: The company's total revenue grew by approximately 10.6% year-over-year, reaching $3.73 billion in Q3 2024. This increase in revenue is a result of Airbnb's continued expansion and innovation in the travel and lodging industry. 2. **Gross Margin Improvement**: Airbnb's gross margin improved to 83.17% in Q3 2024, up from the previous quarter's margin of 80.50%. This indicates that the company is retaining a larger portion of its revenue after covering its direct costs, which is a positive signal for profitability and operational efficiency. 3. **Operating Expenses**: The company's operating expenses were not provided in the report, but it is clear that the growth in revenue has outweighed any increase in operating costs, resulting in a higher gross profit margin. In summary, Airbnb's gross profit growth in Q3 2024 is attributed to a combination of increased revenue and improved gross margin, which together provide a strong foundation for the company's financial performance.