Unnamed: 0 int64 | symbol string | quarter int64 | year int64 | date string | company_name string | company_id float64 | text string |
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100 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Operator: Our next question is from Amit Daryanani with Evercore. Please go ahead.
Amit Daryanani: Good afternoon. I have two as well. I guess, first off, I was hoping you could talk a little bit about what you're seeing in China right now. I think from a geographic basis, one of the few places that was down double-dig... |
101 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Tim Cook: Yes. You know, the -- let me try to answer a little bit of both and then Luca can add some comments to it. We announced a number of changes last week in Europe that would be in effect beginning in March. So, the last month of the first calendar quarter, the second fiscal quarter. Those are -- some of the thin... |
102 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Operator: Our next question is from Aaron Rakers with Wells Fargo. Please go ahead.
Aaron Rakers: Yes. Thanks for taking the question. I have two as well as you would imagine. I guess, the first question I wanted to just ask maybe unpack a little bit more, just remarkable trends that we're seeing in your product gross ... |
103 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Aaron Rakers: Okay. And then, the second question I was just going to ask. Tim, you alluded to kind of your excitement around generative AI and some announcements that we should think about maybe later this year. One of the things that stands out for me is that, your capital expenditures has actually come down this las... |
104 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Luca Maestri: Yes. The -- so the first part of the question was around -- oh, the $5 billion. The $5 billion, as I mentioned, a year ago we had this disruption of supply on iPhone 14 Pro and Pro Max because of the factory shutdown due to the COVID-19 situation. And so, essentially there was pent up demand as we exited ... |
105 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Tim Cook: We've really concluded that we can do both. That if you look at it, what has happened over the last several years is that, employees are in a position in many companies to choose their own technology that is the best for them. And so, it sort of took some of the central command from the traditional company an... |
106 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Operator: Our next question is from David Vogt with UBS. Please go ahead.
David Vogt: Great. Thanks guys. And I have two questions as well. So, Tim and Luke, I appreciate the strength in the emerging markets like India and the other names that you kind of listed on the call, but can you maybe spend some time on the Ame... |
107 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Tim Cook: Let me take the first part of your question about America. If you look at the U.S., which obviously drives the vast, vast majority of the revenue in America, we grew in the December quarter from an iPhone business point of view and the install base hit an all-time high. If you look at the replacement cycle, i... |
108 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Operator: Thank you. Our last question is from Ben Reitzes with Melius Research. Please go ahead.
Ben Reitzes: Yes. Hi. Thanks. Appreciate it. Two questions, if I can sneak them in. Just wanted to clarify on China. Tim, I think last quarter you still thought it was a growth market. Obviously, there's some concerns with... |
109 | AAPL | 1 | 2,024 | 2024-02-01 17:00:00 | Apple Inc. | 24,937 | Operator: Once again, this does conclude today's conference. We do appreciate your participation. |
110 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Suhasini Chandramouli: Good afternoon, and welcome to the Apple Q2 Fiscal Year 2025 Earnings Conference Call. My name is Suhasini Chandramouli, Director of Investor Relations. Today's call is being recorded. Speaking first today is Apple's CEO, Tim Cook; and he'll be followed by CFO, Kevan Parekh. After that, we'll ope... |
111 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Tim Cook: Thank you, Suhasini. Good afternoon, everyone, and thanks for joining the call. Today, we are reporting 95.4 billion in revenue, up 5% from a year ago and at the high end of the range we provided last quarter. Diluted EPS was $1.65, up 8% year-over-year and a March quarter record. Services achieved an all-tim... |
112 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | iPhone 16 Plus users are exploring how they can use Camera Control, whether capturing stunning images or exploring the world with Visual Intelligence. And our iPhone 16 Pro models continue to be a hit with our users. They are turbocharged by the remarkable capabilities and efficiency of A18 Pro and feature larger displ... |
113 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | essential partner wherever you are on the health and fitness journey. And AirPods 4 with active noise cancellation delivers an extraordinary experience in an open-ear design. Customers continue to tell me how important our Hearing Health features for AirPods Pro 2 are to them, and we've been expanding their availabilit... |
114 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | viewership during the quarter. And we're excited for our upcoming movie F1 starring Brad Pitt, which will hit theaters this summer and gives an incredible inside look at one of the most intense sports on Earth. And there is so much more to come this year. It's no wonder Apple TV+ has earned more than 2,500 award nomina... |
115 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Wand, Clean Up, Visual Intelligence and a seamless connection to ChatGPT, we made it possible for users to create movies of their memories with a simple prompt and added AI-powered photo search, smart replies, priority notifications, summaries for mail, messages and more. We've also expanded these capabilities to more ... |
116 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | future quarters as there are certain unique factors that benefit the June quarter. For our part, we will manage the company the way we always have, with thoughtful and deliberate decisions, with a focus on investing for the long term, and with dedication to innovation and the possibilities it creates. As we look ahead,... |
117 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Kevan Parekh: Thanks, Tim, and good afternoon, everyone. Our March quarter revenue of $95.4 billion was up 5% year-over-year despite a headwind of almost 2.5 percentage points from foreign exchange. We also grew in the majority of the markets we track. Products revenue was $68.7 billion, up 3% year-over-year, driven by... |
118 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | urban China, the UK, Germany, Australia, and Japan. And we continue to see high levels of customer satisfaction in the U.S. at 97% as measured by 451 Research. Mac revenue was $7.9 billion, up 7% year-over-year, driven by the latest MacBook Air, MacBook Pro and Mac Mini models. This performance was broad-based with eve... |
119 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | year-over-year. Paid subscriptions also grew double-digits. We have well over 1 billion paid subscriptions across the services on our platform. We continue to improve the quality and breadth of our service offerings from additional features in News+ to new games available on Arcade. Apple Pay continues to help our cust... |
120 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | today, our Board authorized an additional $100 billion for share repurchases as we maintain our goal of getting to net cash neutral. We're also raising our dividend by 4% to $0.26 per share of common stock, and we continue to plan for annual increases in the dividend going forward as we have done for the last 13 years.... |
121 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Suhasini Chandramouli: We ask that you limit yourself to two questions. Operator, may we have the first question, please?
Operator: Certainly. We'll go ahead and take our first question from Erik Woodring with Morgan Stanley.
Erik Woodring: Great, thanks so much guys for taking my questions. Tim, I'd love to maybe touc... |
122 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Tim Cook: Yes, Erik, hi. It's Tim. The existing tariffs that apply to Apple today are based on the product's country of origin as you alluded to. For the June quarter, we do expect the majority of iPhones sold in the U.S. will have India as their country of origin and Vietnam to be the country of origin for almost all ... |
123 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Erik Woodring: Okay. I appreciate that color. Thank, Tim. And then maybe my follow-up is there were a number of reports during the quarter that Apple had pulled forward sell-in into the channel to get ahead of tariffs. So can you just help us better kind of understand or clarify if sell-in and sell-through were aligned... |
124 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Operator: Our next question is from Ben Reitzes with Melius. Please go ahead.
Ben Reitzes: Hi, thanks a lot. Tim, if you had told me that on April 2 that your hit from tariffs was only a nickel-ish a quarter at 900 million, that would have been a pretty good outcome, given the panic that ensued. I'm surprised that it's... |
125 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Tim Cook: Yes, we were down 2%, as you point out, for the March quarter. And to provide a little more transparency around that, we were roughly flat when you remove the headwinds from foreign exchange. And so we did see quite a bit of sequential improvement from the December quarter, which was down 11. And again, for g... |
126 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Operator: Our next question is from Michael Ng with Goldman Sachs. Please go ahead.
Michael Ng: Hi, good afternoon. Thank you very much for the question. I was just wondering if you could talk a little bit about your responses on some of this trade policy uncertainty. I appreciated the transparency around building ahea... |
127 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Michael Ng: Thank you.
Kevan Parekh: Thank you.
Suhasini Chandramouli: Thank you, Mike. Operator, could we have the next question, please?
Operator: Our next question is from Amit Daryanani with Evercore. Please go ahead.
Amit Daryanani: Thanks a lot. I guess I'll have to start with a tariff question as well. Tim, I th... |
128 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Operator: Our next question is from Wamsi Mohan with Bank of America. Please go ahead.
Wamsi Mohan: Yes. Thank you. Tim or Kevan, how should investors think about the gross margin trajectory as you source more from the U.S. in particular or other supply chain changes that you are making, including in India? How should ... |
129 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Wamsi Mohan: No, that's super helpful. Thank you. I guess you just noted that you weren't going to give services maybe a growth forecast here in light of some of the uncertain news. But maybe, Tim, could you share any color around what you have seen in developer behavior in areas like Europe where there has now been em... |
130 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Operator: Our next question is from David Vogt with UBS. Please go ahead.
David Vogt: Great. Thanks, guys. Thanks for taking my question. So I've got two as well, and Tim, this is more of a big picture supply chain philosophical question. So can you maybe update us on your thoughts on how you're thinking about your res... |
131 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | David Vogt: Okay. But no quantifiable impact on demand to date, at least from where we are over the last month? Is there a way to kind of think about that from early April to early May?
Kevan Parekh: I would say our best thinking is reflected in the range that we provided.
David Vogt: Okay. Thanks, Kevan. Thanks, guys.... |
132 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Samik Chatterjee: Okay, got it. Then maybe for my follow-up, I mean, you have a lot of insights now in terms of what consumers or how consumers are reacting to the overall macro. And I know you prefaced all your guidance with macro remaining consistent. But how -- what are you seeing in terms of the U.S. consumer? And ... |
133 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Tim Cook: Well, there's lots of all of it is what I would say. We're not giving out the exact split, but as we expand facilities in the different states from Michigan to Texas to California and Arizona and Nevada and Iowa and Oregon and North Carolina and Washington, there will be CapEx involved in that and OpEx involv... |
134 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Operator: Our next question is from Richard Kramer with Arete Research. Please go ahead.
Richard Kramer: Thank you very much. Wanted to ask about tariffs. Tim, given your recognition that a new Siri system is taking longer than you thought to deliver, I'd like to go back to my question from the last call and ask about ... |
135 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Kevan Parekh: And Richard, I'll just add that on your question about investment that we don't underestimate -- underinvest in our business. We make significant investments in R&D. That continues to grow. We're continuing to grow our R&D investment. And so we definitely are making all the investments we think we need to... |
136 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Operator: We'll go ahead and take our last question from Aaron Rakers with Wells Fargo. Please go ahead.
Aaron Rakers: Yes, thanks for taking the question. I want to go back to the AI strategy a little bit. I know, Tim, in your prepared comments, you had mentioned building some of your own foundational models. And I'm ... |
137 | AAPL | 2 | 2,025 | 2025-05-01 19:13:00 | Apple Inc. | 24,937 | Tim Cook: We're super excited to ship the first 1 and get it out there and it's gone well. We love that we can produce better products from a point of view of really focusing on battery life and other things that customers want. And so we're -- we have started on a journey is the way I would put it.
Aaron Rakers: Thank... |
138 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Suhasini Chandramouli: Good afternoon, and welcome to the Apple Q1 Fiscal Year 2025 Earnings Conference Call. My name is Suhasini Chandramouli, Director of Investor Relations. Today's call is being recorded. Speaking first today are Apple CEO, Tim Cook, and he will be followed by CFO, Kevan Parekh. After that, we'll op... |
139 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Tim Cook: Thank you, Suhasini. Good afternoon, everyone, and thanks for joining the call. Before I talk about our results I'd like to take a moment to acknowledge the devastating wildfires that impacted the Los Angeles area this month. From our retail teams to Apple TV+, Apple Music, Fitness Plus, Beats and more LA is ... |
140 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | a simple prompt, and touch up their photos with clean up. We introduced visual intelligence with camera control to help users instantly learn about their surroundings. Users can also seamlessly access chat GPT across iOS, iPadOS and MacOS. And we were excited to recently begin our international expansion with Apple Int... |
141 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | with camera control. Our amazingly powerful iPhone 16 Pro models go even further with larger-than-ever displays and a pro camera system so advanced it can turn moments into masterpieces. In Mac, revenue was $9 billion for the December quarter, 16% higher year-over-year, driven by significant excitement around the world... |
142 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | and watchOS 11. Health innovation has long been a focus for us, and we're committed to continuing to advance this work, because we know how much it matters to our users. We've introduced new hearing health features on AirPods Pro 2, and new sleep apnea notifications on Apple Watch are also helping users learn of a pote... |
143 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | when they lose their luggage. For the first time, if you put an air tag in your suitcase, you'll be able to share its location information with many major airlines, so they can quickly track down your bags if they get lost. Turning to retail, our teams went above and beyond to help customers find the perfect gift throu... |
144 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | finding those places where we can do the most good and putting all of our energy and ingenuity into making something special. With that, I'll turn it over to Kevin. |
145 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Kevan Parekh: Thanks Tim, and good afternoon everyone. I'm going to cover the results for the first quarter of our fiscal year. We are very pleased to report an all-time high for revenue with December quarter revenue of $124.3 billion, up 4% year-over-year. We achieved all-time revenue records in the Americas, Europe, ... |
146 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | several developed markets, including Canada, Western Europe, and Japan and in emerging markets like Latin America, the Middle East, and South Asia. The iPhone Active installed base grew to an all-time high in total in an average geographic segment. We also set an all-time record for upgraders. According to a recent sur... |
147 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | an Apple Watch during the quarter being new to the product. Customer satisfaction for watch in the U.S. was reported at 94%. Our services revenue reached an all-time high of $26.3 billion, up 14% year-over-year. Services continues to see strong momentum, and the growth of our installed base of active devices gives us g... |
148 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | with $141 billion in cash and marketable securities. We repaid $1 billion in maturing debt and decreased commercial paper by $8 billion, resulting in $97 billion in total debt. Therefore, net cash at the end of the quarter was $45 billion. During the quarter, we returned over $30 billion to shareholders. This included ... |
149 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Suhasini Chandramouli: Thank you, Kevin. We ask that you limit yourself to two questions. Operator, may we have the first question please?
Operator: Certainly, we will go ahead and take our first question from Erik Woodring with Morgan Stanley. Please go ahead.
Erik Woodring: Great guys, Thanks so much for taking my qu... |
150 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Erik Woodring: Okay, that's really helpful.
Tim Cook: Yes.
Erik Woodring: Okay, thank you for that, Tim. It's helpful. And then, you know, if we just touch on China, obviously, in the news fairly frequently, if we set aside China Macro, which I understand is still challenging, can you maybe talk about the headwinds tha... |
151 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Tim Cook: Thank you.
Suhasini Chandramouli: Thank you, Eric. Operator, can we have the next question, please?
Operator: Our next question is from Ben Reitzes with Melius. Please go ahead.
Ben Reitzes: Hey, guys. Thanks a lot for the question. And, hey, Tim, I wanted to ask you who -- you knew this one was coming, but t... |
152 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Tim Cook: I think, Ben, I think there's a lot more to come and I could not feel more optimistic about our product pipeline. So I think there's a lot of innovation left on the smartphone.
Ben Reitzes: Thanks a lot, Tim.
Tim Cook: Yes, thank you.
Suhasini Chandramouli: Thank you, Ben. Operator, could we have the next que... |
153 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Tim Cook: It's a good question. iPad overall grew 15% for the quarter and it was more driven by iPad Air and the entry level iPad than it was the top level iPad. But overall we could not be more pleased with the iPad category growing 15%. It's a great achievement for the quarter. And probably what is most important is ... |
154 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Kevan Parekh: Yes, maybe I'll add, Amit, that in emerging markets we're also seeing double-digit growth on the install base, both in total and for the iPhone as well. So that's also an encouraging sign.
Amit Daryanani: Perfect. Thank you. And then, you know, just a question on gross margins for the March quarter. You f... |
155 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Operator: Our next question is from Wamsi Mohan with Bank of America. Please go ahead.
Wamsi Mohan: Yes, thank you so much. Tim, I want to follow-up on your comment about channel inventory in China. I was wondering if you could maybe address more broadly if channel inventory across your different product lines and regi... |
156 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Kevan Parekh: Yes. So I think one, I just wanted to kind of reiterate the fact that, you know, our services business had an all-time record for December quarter of 14%. And that was a one strength that we saw across all geographic segments and also was very broad base across all of our services. So we have, as you know... |
157 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Tim Cook: Yes. If you look at Mac, Mac was up 16% and on iPad, we were up 15%. The Mac was driven by the very strong uptake on our new products during the quarter and the continued success of the MacBook Air. And so as you know, we've launched an M4-based MacBook Pro, an iMac and a Mac Mini during the quarter. We belie... |
158 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Operator: Our next question is from David Vogt with UBS. Please go ahead.
David Vogt: Great, thanks, guys, for taking my question. So maybe, Tim, this is for you. I'm trying to think about your commentary around Apple Intelligence being sort of a momentum driver for the iPhone business. But when I think about your kind... |
159 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | David Vogt: Yes, great.
Kevan Parekh: Hi, David. How are you? So on the Services gross margin, I think maybe just stepping back a second. Services business in general in aggregate is accretive to the overall company margin. And one of the things, as an important reminder, is we've got a very broad services portfolio. A... |
160 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Tim Cook: I don't know the answer to your question precisely, but I think it is a combination of these products are so compelling, the M4-based products are so compelling, that it's driving both upgrades at the double-digit level and it's driving switchers at a double-digit level. And so we're seeing both come out, and... |
161 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Kevan Parekh: Yes. Thanks, Krish, for the question. So on the product side, as you mentioned, we had pretty strong sequential improvement, 300 basis points, for the December quarter. That was really driven by, we talked about, favorable mix and leverage. As you know, in Q1, again, it's a launch quarter for many product... |
162 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Operator: Our next question is from Richard Kramer with Arete Research. Please go ahead.
Richard Kramer: Thanks very much. My first question is for Tim. I'd like to ask about what might accelerate the pace of Apple Intelligence adoption. I guess do you see this simply as a question of time i.e., to launch more markets ... |
163 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Kevan Parekh: Yes, it's a good question. I think one, I don't think we're going to really depart from what served us pretty well to now. I mean we always take it into consideration, looking at short-term -- comparison between the short term and the long term. I think we've had a pretty disciplined pricing strategy, whi... |
164 | AAPL | 1 | 2,025 | 2025-01-30 17:00:00 | Apple Inc. | 24,937 | Operator: Our last question is from Ben Bollin from Cleveland Research Company. Please go ahead.
Ben Bollin: Good evening, everyone. Thanks for taking the question. Tim, I'm interested in your thoughts and how you would have us think about the average useful life of these devices in the wild. And in particular, curious... |
165 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Good afternoon, and thank you for joining Airbnb, Inc.'s earnings conference call for the fourth quarter of 2024. As a reminder, this conference call is being recorded and will be available for replay from the Investor Relations section of Airbnb, Inc.'s website following this call. I will now hand the call o... |
166 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Angela Yang: Good afternoon, and welcome to Airbnb, Inc.'s fourth quarter of 2024 earnings call. Thank you for joining us today. On the call today, we have Airbnb, Inc.'s co-founder and CEO, Brian Chesky, and our Chief Financial Officer, Ellie Mertz. Earlier today, we issued a shareholder letter with our financial resu... |
167 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Alright. Well, thank you very much. And hey, everyone. Thanks for joining me today. 2024 Airbnb, Inc. outpaced the travel industry's growth. We ended the year with Q4 revenue. Now before we get into the results, nights booked, and GBV all accelerating from Q3. I want to just quickly touch on some of the w... |
168 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | support the introduction of new offerings. Finally, we've rebuilt our platform from the ground up with a new technology stack. This includes new listing management tools for hosts, and these tools make it easier for hosts to list and manage their homes while giving them the ability to eventually offer more services. We... |
169 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Thank you, Brian, and good afternoon. I'll start with a review of our financial results and then provide our current outlook for Q1 2025. As Brian mentioned, we ended last year on a strong note. Nights and experiences booked accelerated in Q4 to 12%, making it the highest year-over-year growth quarter of 2... |
170 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | booked, we expect year-over-year growth in Q1 2025 to be relatively in line with Q1 2024 once you exclude leap day, which contributed about one percentage point of growth last year. On profitability, we expect adjusted EBITDA and adjusted EBITDA margin to decline compared to Q1 2024, driven by the same factors impactin... |
171 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: We will now begin the question and answer session.
Stephen Ju: Thank you. So I think in the past, in terms of the global sort of localization effort, you've talked about Brazil and I think in the shareholder letter, you were showing your localization effort for Japan. So just wondering how long it typically t... |
172 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Great. Thank you, Stephen. Let me start just giving a little bit of color in terms of our global market strategy. As backdrop in terms of context on this strategy, we've shared over the last year that Airbnb, Inc. is a very global brand. However, our business is concentrated in our top five core markets. S... |
173 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | addressing the local audience. So your second question is around our investments in scaling launching and scaling the new businesses. As the letter details, we're planning to spend approximately $200 to $250 million this year. And you should see the bulk of that investment hit both our marketing line and our product de... |
174 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question comes from the line of Richard Clarke with Bernstein. Please go ahead.
Richard Clarke: Hi. Thanks for taking my questions. I just want to ask about the launch we've seen of AI. I think Airbnb, Inc. avoided some of the volatility that some of your peers had. But are you leaning into those ope... |
175 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Hey, Richard. Yeah. Here's what I think about AI. I think it's still really early. It's probably similar to, like, the mid to late nineties for the Internet. So I think it's gonna have a profound impact on travel. But I don't think, you know, it's yet fundamentally changed for any of the large travel plat... |
176 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question comes from the line of Eric Sheridan with Goldman Sachs. Please go ahead.
Eric Sheridan: Thanks so much for taking the question. Maybe just one quick follow-up, Brian, and then I could ask a follow-up. With respect to the AI, I appreciate your answer with respect to outward-looking and how i... |
177 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Alright. Hey, Eric. I'll answer the efficiency deal. I'll wait for the second part. So yeah. There's, like, a couple of efficiencies that you could imagine. Airbnb, Inc., one is obviously customer service. I think that's, like, one of the biggest ones. I've kinda already covered that, but I think that's, ... |
178 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Eric, to answer your question with regards to the capital allocation strategy, I would say, no, no meaningful change in terms of strategy. What we've stated consistently over the last two years is that our capital allocation strategy includes, one, obviously, investing in our core operation, valuing M&A wh... |
179 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Yeah. Hey, Justin. I mean, this tech stack probably like, this project probably started, frankly, six years ago, if I'm not mistaken. So this has been a very, very long thing. We've been doing it for quite a long time. I think the big milestone is that, like, you know, most of the work is now complete. An... |
180 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Yeah. Hey, Brian. I will and are you asking just to clarify the first this is specifically, friction point for new products and services, not product optimizations. Correct? That's right. Yeah. So the, you know, the $200 to $250 million. Yeah. The new new business is running. Yep. Yep. So let me just kind... |
181 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | years. We're gonna start initially with things very closely adjacent to travel. So, you know, when people book an Airbnb, Inc., there's a lot of, like, you know, experiences and services and other things that would make their stay more special. And it would even include things they wouldn't think to search for. And fro... |
182 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Great, Brian. Let me talk a little bit about margins over the course of the year. So to restate, or just reiterate the guidance that we provide for the full year, we're going to invest $200 and $250 million in terms of launching and scaling the new businesses. We anticipate that the negative impact to marg... |
183 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question will come from the line of Ron Josie at Citi.
Ron Josie: Thanks for taking the question. Brian, I wanted to ask a little bit more on the here now. You in the letter, you talked about recent product enhancements around search and better merchandising. Love to hear your thoughts on what what y... |
184 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Yeah. Hey, Ron. I'll take the first. Yeah, when you think about the here and now, you know, when we call this out in our letter really around product optimizations. And, Ron, I'll kinda just let's just start, like, three parts. Step one, people come to Airbnb, Inc. It's really we have a huge amount of tra... |
185 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | important that that Airbnb, Inc. is affordable. And affordability is in our DNA. So we've made a lot of improvements around affordability that have also increased optimization. Like showing the total price display. When guests toggle on total price display, that includes all fees including cleaning fees, we see that pe... |
186 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | and then reliability and quality of the service. So again, we've made know, hundreds of updates over the past few years on these, but these are just a couple callouts. |
187 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: And and Ron, to answer your question in terms of quantifying the Q4 demand. I would say, you know, obviously, we benefited from organic tailwinds across the industry. But in addition to that, all of the product optimizations that Brian shared from our testing of those improvements, we estimate the exit rat... |
188 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Yeah. I can I can handle this? Hey, James. So frictions do you wanna resolve with experiences? Let's ask, though, what were the were some of the challenges the first time around? Well, the first time around, I don't think we integrated the experiences really well. The products. If you go to airbnb.com or ... |
189 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | become an even greater share of our business. I think down the road, and so if you think about what all the service need to travel or live somewhere, there's a lot of opportunities. Now the key is not to do them obviously all at once, to be to prioritize, to pick the most differentiated services guests want the most th... |
190 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question will come from the line of Jed Kelly at Oppenheimer. Please go ahead.
Jed Kelly: Hey. Great. Thanks for taking my questions. Just first, can you talk about as you kind of increase your reliability, where are where are you in potentially partnering with some you know, larger companies that mi... |
191 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: K. Just to talk a little bit about North America. So one to just call it the trends that we saw in the back half of the year. North America, like all other regions, accelerated from Q3 to Q4. What I would say about you know, the the state of play in North America is we believe we can grow faster than we ar... |
192 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Brian Chesky: Yeah. Hey, Doug. Co Host Network, just to give people a little bit of background on the Co Host Network, you know, we did a bunch of surveys, and we talked to a lot of prospective hosts. And here's the status surprised us. More than 40% of people we surveyed say they would be interested in sharing their h... |
193 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Great. And, Doug, to talk about margins in terms of where there's opportunity for incremental efficiencies? Just to restate our our margin guide every year, we will be looking to invest in new growth opportunities while also finding incremental efficiencies in our core business. In terms of 2025 and and th... |
194 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question will come from the line of Lee Horowitz at Deutsche Bank. Please go ahead.
Lee Horowitz: Great. Thanks for thanks for taking the question. Maybe just on some of the growth markets. You guys highlighted some really healthy growth rates in these expansion regions. And obviously put up nice num... |
195 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Sure. Let me let me start with the latter question. So if you think about how we've been managing our overall marketing dollars, the majority of the spend is on brand marketing. And the way to think about brand marketing is that it is effectively a fixed amount of spend for each market in terms of the mini... |
196 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question will come from the line of Justin Post at B of A. Please go ahead.
Justin Post: Great. Thanks. A couple questions. Looks like you know, we've already covered it. US accelerated. Looking back, what what might have pressured the the growth rates and and on a macro level? And do you see those t... |
197 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Ellie Mertz: Yeah. Certainly. So let's talk a little bit about North America in terms of what, you know, what 2024 looks like. You'll recall this past summer, North America in particular, we saw at the beginning of the summer peak that there was a pretty material contract in terms of lead times, which made bookings gro... |
198 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | from some benefits we got to revenue in Q4 of 2023. Associated with breakage of gift cards. So fast forward to 2025, we don't anticipate any of those similar one-offs that will offset the the benefit we get from the FX service fee. And so instead for full year 2025, you should assume that, the implied take rate gets th... |
199 | ABNB | 4 | 2,024 | 2025-02-13 16:30:00 | Airbnb, Inc. | 115,705,393 | Operator: Our next question will come from the line of Ken Gawrelski with Wells Fargo. Please go ahead.
Ken Gawrelski: Thank you. Two, if I may. First, just on the expense side, maybe, Ellie, you talk a little bit going looking beyond 2025. How do you think about the fixed investments you've made to prepare for the pro... |
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