Airbnb, Inc. recorded a 12% increase in revenue for the fourth quarter, with free cash flow rising 13.7% to $521 million. The lodging rental platform’s stock climbed 5.7% in Friday’s premarket trading.

The company reported a 10% year-over-year increase in nights and experiences booked, while total booking value grew 16%, indicating higher spending per user. However, significant increases in marketing, operations, and customer support expenses led to a 37% decline in operating income.

For the full year, Airbnb posted revenue of $12.2 billion and operating income of $2.54 billion, remaining largely unchanged compared to 2024.